| 2016 | 2015 |
|---|
| OPERATING REVENUES | | |
|---|
| Student tuition and fees, net | $ 9,316,745 | $ 11,517,008 |
|---|
| Grants and contracts | 9,808,120 | 10,101,995 |
|---|
| Federal appropriations | 8,006,332 | 6,665,512 |
|---|
| Auxiliary enterprises | 3,702,842 | 4,826,037 |
|---|
| Other operating revenue | 846,985 | 1,741,780 |
|---|
| Total operating revenues | 31,681,024 | 34,852,332 |
|---|
| OPERATING EXPENSES | | |
|---|
| Educational and general | 56,825,667 | 63,553,521 |
|---|
| Auxiliary enterprises | 4,499,210 | 4,982,456 |
|---|
| Total operating expenses | 61,324,877 | 68,535,977 |
|---|
| OPERATING LOSS | (29,643,853) | (33,683,645) |
|---|
| NONOPERATING REVENUES | | |
|---|
| (EXPENSES) | | |
|---|
| State appropriations | 23,429,600 | 23,429,600 |
|---|
| Federal grants and contracts | 3,785,004 | 5,024,963 |
|---|
| Investment income (loss) | (209,844) | 280,360 |
|---|
| Interest on capital asset – related debt | (445,054) | (263,107) |
|---|
| Other | - | - |
|---|
| Endowment gifts | 187 | 4,636 |
|---|
| Total non-operating revenues | 26,559,893 | 28,476,452 |
|---|
| Decrease in net position before cumulative effect of change in accounting principle | (3,083,960) | (5,207,193) |
|---|
| Cumulative effect of a change in accounting principle | - | (93,364,175) |
|---|
| Decrease in net position | (3,083,960) | (98,571,368) |
|---|
| Net position, beginning of year | 11,446,168 | 110,017,536 |
|---|
| Net position, end of year | $ 8,362,208 | $ 11,446,168 |
|---|