Condensed Statement of Revenues, Expenses and Changes in Net Position
| 2013 | 2012 |
|---|
| OPERATING REVENUES | | |
|---|
| Student tuition and fees, net | $ 16,595,920 | $ 18,943,062 |
|---|
| Grants and contracts | 9,172,968 | 12,267,993 |
|---|
| Federal appropriations | 6,873,169 | 3,796,394 |
|---|
| Auxiliary enterprises | 6,065,393 | 6,838,829 |
|---|
| Other operating revenue | 1,131,620 | 1,653,909 |
|---|
| Total operating revenues | 39,839,070 | 43,500,187 |
|---|
| OPERATING EXPENSES | | |
|---|
| Educational and general | 64,595,994 | 70,193,882 |
|---|
| Auxiliary enterprises | 6,610,652 | 6,208,366 |
|---|
| Total operating expenses | 71,206,646 | 76,402,248 |
|---|
| OPERATING LOSS | (31,367,576) | (32,902,061) |
|---|
| NONOPERATING REVENUES | | |
|---|
| (EXPENSES) | | |
|---|
| State appropriations | 23,537,402 | 24,660,001 |
|---|
| Federal grants and contracts | 5,922,954 | 7,373,490 |
|---|
| Gifts and grants | - | 251,309 |
|---|
| Investment income (loss) | 1,150,833 | 849,729 |
|---|
| Interest on capital asset – related debt | (276,050) | (373,738) |
|---|
| Other | 583,269 | 337,867 |
|---|
| Total non-operating revenues | 30,918,408 | 33,098,658 |
|---|
| Income before other revenues, expenses, gains (losses) | (449,168) | 196,597 |
|---|
| Endowment Gifts | 7,276 | 106,552 |
|---|
| Capital appropriations | - | - |
|---|
| Total increase (decrease) in net position | (441,892) | 303,149 |
|---|
| Net position, beginning of year | 114,498,157 | 114,195,008 |
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| Net position, end of year | $ 114,056,265 | $ 114,498,157 |
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