Statement of Revenues, Expenses and Changes in Net Position (By Function) Periods Ending December 31, 2015 and 2014 (Unaudited)
| REVENUES | December 2013 | December 2014 |
|---|---|---|
| Operating revenue: | ||
| Student tuition and fees (gross) | 11,783,523 | 13,646,778 |
| Less: Scholarship allowances | (2,698,368) | (2,724,825) |
| Student tuition and fees (net of scholarships) | 9,085,154 | 10,921,953 |
| Federal grants and contracts | 2,193,980 | 4,284,672 |
| Federal appropriations | 3,587,636 | 3,286,706 |
| State and local grants and contracts | 620,896 | 1,226,892 |
| Auxiliary enterprises | ||
| Residence halls | 1,938,096 | 2,147,940 |
| Dining | 1,713,048 | 1,950,625 |
| Bookstore | - | 4,990 |
| Other auxiliaries-majority includes, laundry, homecoming and facility rental | 16,651 | 14,705 |
| Other operating revenues – primarily includes indirect cost recoveries, activity fees, nursing course fees, interest grant and rental income | 524,937 | 1,458,522 |
| Total operating revenue | 19,680,397 | 25,297,005 |
| EXPENSES | ||
| Operating expenses: | ||
| Educational and general | ||
| Instruction | 4,438,976 | 4,647,495 |
| Research | 3,170,428 | 2,548,037 |
| Public service | 3,423,763 | 3,593,211 |
| Academic support | 1,210,158 | 1,542,186 |
| Student services | 2,753,265 | 3,664,244 |
| Institutional support | 4,624,287 | 6,376,425 |
| Operations and maintenance of plant | 2,835,309 | 2,419,238 |
| Student aid | 3,025,033 | 4,024,096 |
| Depreciation | 2,026,607 | 2,072,560 |
| Auxiliary enterprises | ||
| Residence halls | 596,364 | 636,153 |
| Dining | 919,081 | 1,078,994 |
| Other auxiliaries – primarily includes Auxiliary salary expenses and copy services | 201,451 | 393,304 |
| Depreciation | 152,220 | 162,081 |
| Total operating expenses | 29,376,943 | 33,158,022 |
| Operating income (loss) | (9,696,546) | (7,861,018) |
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