$13.6 million of which $6 million is for spring assessment, dining revenue was $1.95 million of which $735 thousand is for spring assessment and resident halls revenue was $2.1 million of which $819 thousand is for spring assessment. He stated that operating revenue went up by $322 thousand over the year primarily due to an increase of $263 thousand in indirect cost recovery and an increase of $57 thousand in other tuition and fee related items. Mr. Edwards stated that academic support went up by $305 thousand over the prior year due to an increase in salaries and benefits of $46 thousand and an increase of $259 thousand in non-capital equipment, major renovations and computer equipment. Institutional support went up by $738 thousand over the prior year due to bad debt expense of $735 thousand, increase in salaries and benefits of $281 thousand and a decrease of other expenses of $278 thousand net to the remaining change. He further stated that investment income went down by $2.96 million which is mostly due to unrealized gains/losses, realized gain/loss went up by $0.17 million while unrealized gain/loss went down by $3.1 million.
Regent Farris inquired as to how we are assessing the payment plan to determine if it is effective. President Burse stated that for Fall Term it worked but in terms of this enrollment period we had a breakdown in processing. He stated that the reason we have those 500 students sitting out there is because we didn't collect as we should have, but we are going through that process now one student at a time. He further stated that sending the message and getting money collected has been very effective and the students know that they have an obligation to pay. President Burse stated that we have to get better with getting these plans signed on the front end rather than chasing folks. He stated that Mr. Pinkard and Ms. Impellizzeri were working on this.
Vice President Pinkard stated that the 1099's, 1098T's and W2's will come out next week on time with no issues. He also stated that we are going through a step by step testing with Information Technology, Human Resource Services and Finance to make sure we can generate a delivery date earlier than January 31st on a more consistent basis.
Crissy Fiscus, Director of Assurance Services with Dean Dorton Allen Ford provided an overview of the new portion of the A-133 federal awards audit. Ms. Fiscus stated that $23 million is the bulk of awards expended for student financial aid. She stated that there were several notes to the schedule of expenditures of federal awards. Ms. Fiscus stated they audited each major federal program and an unmodified opinion was given for each of them. She went over management's and the auditor's responsibility for the audit. Ms. Fiscus stated that an unmodified opinion report was issued on the financial statements and there were no material weakness noted in
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