(Unaudited)
| December 2014 | December 2013 | |
| REVENUES | ||
| Operating revenue: | ||
| Student tuition and fees (gross) | 13,646,778 | 11,193,069 |
| Less: Scholarship allowances | (2,724,825) | (2,502,272) |
| Student tuition and fees (net of scholarships) | 10,921,953 | 8,690,798 |
| Federal grants and contracts | 4,284,672 | 3,301,020 |
| Federal appropriations | 3,286,706 | 3,524,365 |
| State and local grants and contracts | 1,226,892 | 910,192 |
| Auxiliary enterprises | ||
| Residence halls | 2,147,940 | 1,705,951 |
| Dining | 1,950,625 | 1,608,842 |
| Bookstore | 4,990 | 75,000 |
| Other auxiliaries | 14,705 | 52,373 |
| Other operating revenues | 1,458,522 | 1,136,526 |
| Total operating revenue | 25,297,005 | 21,005,067 |
| EXPENSES | ||
| Operating expenses: | ||
| Educational and general | ||
| Instruction | 4,647,495 | 5,442,567 |
| Research | 2,548,037 | 2,737,421 |
| Public service | 3,593,211 | 3,752,454 |
| Academic support | 1,542,186 | 1,237,605 |
| Student services | 3,664,244 | 3,631,050 |
| Institutional support | 6,376,425 | 5,638,608 |
| Operations and maintenance of plant | 2,419,238 | 2,733,958 |
| Student aid | 4,024,096 | 4,973,948 |
| Depreciation | 2,072,560 | 2,068,248 |
| Auxiliary enterprises | ||
| Residence halls | 636,153 | 776,507 |
| Dining | 1,078,994 | 1,553,054 |
| Other auxiliaries | 393,304 | 470,337 |
| Depreciation | 162,081 | 165,170 |
| Total operating expenses | 33,158,022 | 35,180,927 |
| Operating income (loss) | (7,861,018) | (14,175,859) |
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