Condensed Statement of Revenues, Expenses, and Changes in Net Position
| 2023 | 2022 | |
| REVENUES | ||
| Student Tuition and Fees, Net | $ 7,008,004 | $ 16,738,780 |
| Grants and Contracts | 27,652,236 | 26,311,740 |
| Auxiliary Enterprises | 7,055,422 | 7,097,739 |
| Other Operating Revenue | 1,755,001 | 1,028,438 |
| Total Operating Revenues | 43,470,663 | 51,176,697 |
| EXPENSES | ||
| Educational and General | 64,363,084 | 72,719,452 |
| Auxiliary Enterprises | 6,969,702 | 5,808,448 |
| Total Operating Expenses | 71,332,786 | 78,527,900 |
| OPERATING LOSS | (27,862,123) | (27,351,203) |
| NONOPERATING REVENUES (EXPENSES) | ||
| State Appropriations | 27,880,600 | 27,885,600 |
| Federal Grants and Contracts | 7,636,939 | 5,452,298 |
| Investment Income, Net | 1,182,412 | (2,876,235) |
| Other Nonoperating Revenue | 24,095 | 35,275 |
| Certificates of Participation Issuance Costs | - | (1,116,658) |
| Loss on Disposal of Capital Assets | (966,249) | - |
| Interest on Capital Assets - Related Debt | (2,364,396) | (1,879,136) |
| Total Nonoperating Revenues | 33,393,401 | 27,501,144 |
| INCOME BEFORE OTHER REVENUES AND EXPENSES | 5,531,278 | 149,941 |
| CAPITAL GRANTS | 2,619,162 | 155,200 |
| CHANGE IN NET POSITION | 8,150,440 | 305,141 |
| Net Position - Beginning of Year | 3,541,137 | 3,235,996 |
| NET POSITION - END OF YEAR | $ 11,691,577 | $ 3,541,137 |
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