Expenses

• Academic Support went up by $305K over the prior year which is due primarily to an increase in Salaries and Benefits of $46K and an increase of $259K in Non-Capital Equipment, Major Renovations and Computer Equipment
• Institutional Support went up by $738K over the prior year which is due primarily to Bad Debt Expense of $735K. An increase in Salaries and Benefits of $281K and a decrease of other expenses of $278K net to the remaining change.

Non-Operating Revenues (Expenses)

• Investment Income went down by $2.96M which is due primarily to gains/losses. Realized Gain/Loss went up by $0.17M while Unrealized Gain/Loss went down by $3.1M.

Informational Item

13