Total operating revenues were $48.7 million for the year ended June 30, 2021, as compared with $39.9 million in FY20. The primary components of operating revenue were federal, state and local grants and contracts of $24.7 million (50.7%), student tuition and fees (net of scholarships) of $15.5 million (32%) and auxiliary services and other revenues of $7.4 million (15%). FY21 net student tuition and fees revenue increased by $5.2 million compared to FY20. FY21 grants and contracts of revenue increased $1.3 million compared to FY20 due to increased awards and spending. FY21 auxiliary services and other revenue increased $2.2 million compared to FY20. Refer to Figure 1 for the two-year trend of the operating revenues as a percent to total operating revenues and revenue by category.
Operating expenses totaled $79.8 million, an increase of $11.3 million from last year. Of this amount, $42.7 million (53.4%) was expended directly for the primary mission of the University – instruction (12.3%), research (9.4%), student services (9.7%), student aid (12.5%), and public service (9.6%). Instruction is the main component of Primary Mission expenses amounting to $9.8 million in fiscal year 2021 or 12.3%. Refer to Figure 2 for the operating expenses categorized into the Primary Mission of the University.
(Percentages below do not include depreciation or operations/maintenance allocations.)
Figure 2
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