| 2013 | 2012 |
|---|
| NONOPERATING REVENUES (EXPENSES) | | |
|---|
| State appropriations | $ 23,537,402 | $ 24,660,001 |
|---|
| Federal grants and contracts | 5,922,954 | 7,373,490 |
|---|
| Gifts | - | 251,309 |
|---|
| Investment income (net of investment expense) | 1,150,833 | 849,729 |
|---|
| Interest on capital asset-related debt | (276,050) | (373,738) |
|---|
| Other non-operating revenues | 583,269 | 337,867 |
|---|
| Endowment gifts | 7,276 | 106,552 |
|---|
| Net non-operating revenues | 30,925,684 | 33,205,210 |
|---|
| (Decrease)/increase in net position | (441,892) | 303,149 |
|---|
| Net position, beginning of year (as restated) | 114,498,157 | 114,195,008 |
|---|
| Net position, end of year | $ 114,056,265 | $ 114,498,157 |
|---|