The following presents a comparison of the University's revenues, expenses, and changes in net position for the years ended June 30, 2024, and 2023:
Condensed Statement of Revenues, Expenses, and Changes in Net Position
| 2024 | 2023 |
|---|
| REVENUES | | |
|---|
| Student Tuition and Fees, Net | $ 7,772,530 | $ 7,008,004 |
|---|
| Grants and Contracts | 32,702,568 | 27,652,236 |
|---|
| Auxiliary Enterprises | 9,904,544 | 7,055,422 |
|---|
| Other Operating Revenue | 1,765,269 | 1,755,001 |
|---|
| Total Operating Revenues | 52,144,911 | 43,470,663 |
|---|
| EXPENSES | | |
|---|
| Educational and General | 73,662,662 | 64,363,084 |
|---|
| Auxiliary Enterprises | 3,378,074 | 6,969,702 |
|---|
| Total Operating Expenses | 77,040,736 | 71,332,786 |
|---|
| OPERATING LOSS | (24,895,825) | (27,862,123) |
|---|
| NONOPERATING REVENUES (EXPENSES) | | |
|---|
| State Appropriations | 28,468,739 | 27,880,600 |
|---|
| Federal Grants and Contracts | 8,079,784 | 7,636,939 |
|---|
| Investment Income, Net | 2,285,500 | 1,182,412 |
|---|
| Other Nonoperating Revenue | - | 24,095 |
|---|
| Loss on Disposal of Capital Assets | (146,182) | (966,249) |
|---|
| Interest on Capital Assets - Related Debt | (2,356,242) | (2,364,396) |
|---|
| Total Nonoperating Revenues | 36,331,599 | 33,393,401 |
|---|
| INCOME BEFORE OTHER REVENUES AND EXPENSES | 11,435,774 | 5,531,278 |
|---|
| CAPITAL GRANTS | 9,185,745 | 2,619,162 |
|---|
| CHANGE IN NET POSITION | 20,621,519 | 8,150,440 |
|---|
| Net Position - Beginning of Year | 11,691,577 | 3,541,137 |
|---|
| NET POSITION - END OF YEAR | $ 32,313,096 | $ 11,691,577 |
|---|
(7)