June 30, 2011
The University continued to invest in student aid and support services to provide students with opportunities to be successful in fiscal 2011. For the year ended June 30, 2011, student aid related to tuition and fees totaled $15.2 million, with student aid expenses of $10.3 million and scholarship allowances of $4.9 million.
The University had an overall increase in institutional support of $404 thousand, along with a decrease in auxiliary enterprises of $252,060. The large expenditures in the primary areas of instruction, research and student services, in conjunction with minimal increases to fixed cost areas, confirms the University resource allocations are clearly aligned with the University's strategic priorities to support academic and student excellence.
The net loss from operations for the year amounted to $24.1 million. Nonoperating revenues, net of expenses, amounted to $34.7 million, resulting in an increase in income before capital appropriations of $10.6 million for the year. After capital appropriations, the increase in net assets was $10.6 million. Nonoperating revenues include state appropriations of $25.4 million, federal grants and contracts of $7.1 million, gifts of $970 thousand and investment income of $1.8 million, and other nonoperating loss net of revenue of $46,632.
Operating revenues in fiscal year 2009 were $36.0 million and operating expenditures were $62.9 million, resulting in a loss from operations of $26.9 million. Net nonoperating revenues were $27.7 million, including $26.4 million in state appropriations. Compared to fiscal year 2010, revenue increases have been due to tuition and fee increases, grant and contracts increases, federal appropriations and auxiliary enterprises.
The Statements of Cash Flows present information related to the University's cash inflows and outflows summarized by operating activities, noncapital financing activities, capital financing activities and investing activities. The primary purpose of the Statements of Cash Flows is to provide information about the cash receipts and cash payments made by the University during the year, to allow financial statement readers to assess the University's ability to generate future net cash flows, its ability to meet obligations as they become due and its possible need for external financing.