(Unaudited)
| September 2014 | September 2013 | |
| REVENUES | ||
| Operating revenue: | ||
| Student tuition and fees (gross) | 8,699,818 | 11,537,256 |
| Less: Scholarship allowances | (2,420,742) | (2,204,536) |
| Student tuition and fees (net of scholarships) | 6,279,076 | 9,332,720 |
| Federal grants and contracts | 1,854,743 | 1,738,825 |
| Federal appropriations | 1,808,345 | 1,655,375 |
| State and local grants and contracts | 418,561 | 709,802 |
| Auxiliary enterprises | ||
| Residence halls | 1,304,478 | 1,736,636 |
| Dining | 1,224,322 | 1,607,059 |
| Bookstore | 4,990 | 37,500 |
| Other auxiliaries | 10,698 | 22,404 |
| Other operating revenues | 718,730 | 733,717 |
| Total operating revenue | 13,623,943 | 17,574,039 |
| EXPENSES | ||
| Operating expenses: | ||
| Educational and general | ||
| Instruction | 2,302,305 | 2,393,660 |
| Research | 1,425,666 | 1,407,435 |
| Public service | 1,978,531 | 2,064,510 |
| Academic support | 707,015 | 617,133 |
| Student services | 1,544,862 | 1,792,214 |
| Institutional support | 2,288,391 | 2,834,639 |
| Operations and maintenance of plant | 1,033,284 | 1,423,070 |
| Student aid | 3,140,175 | 4,135,632 |
| Depreciation | 1,031,004 | 1,026,180 |
| Auxiliary enterprises | ||
| Residence halls | 327,733 | 290,862 |
| Dining | 255,735 | 608,078 |
| Other auxiliaries | 187,589 | 244,001 |
| Depreciation | 81,040 | 82,559 |
| Total operating expenses | 16,303,330 | 18,919,975 |
| Operating income (loss) | (2,679,387) | (1,345,936) |
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