Notes to the Financial Statements, continued
In the Statement of Revenues, Expenses and Changes in Net Assets, operating expenses are presented by functional expense purpose. Functional expense purpose is classified below by natural classification, such as salaries, benefits, and goods and services.
Depreciation is allocated below based on functional classification as required by IPEDS for Fiscal Year 2012. The tables below summarize operating expenses by functional purpose for the years ended June 30, 2012 and 2011:
2012
| Compensation & Benefits | Supplies & Services | Scholarships & Fellowships | Operations & Maintenance | Total | ||
|---|---|---|---|---|---|---|
| Instruction | $ 13,054,252 | $ 1,322,344 | $ 5,001 | $ 644,000 | $ 804,395 | $15,829,992 |
| Research | 3,480,460 | 4,188,530 | - | 681,001 | 447,016 | 8,797,007 |
| Public service | 3,552,916 | 2,547,744 | 12,585 | 81,150 | 331,617 | 6,526,012 |
| Academic support | 2,450,151 | 1,835,938 | - | 403,533 | 251,059 | 4,940,681 |
| Student services | 4,423,096 | 3,012,705 | 29,106 | 489,589 | 425,844 | 8,380,340 |
| Institutional support | 7,214,811 | 4,769,702 | 75,391 | 1,168,663 | 805,456 | 14,034,023 |
| Operation & maintenance of plant | 2,061,642 | 1,235,920 | - | 641,547 | (3,939,109) | - |
| Auxiliary enterprises | 1,183,966 | 4,663,407 | 17,193 | 343,800 | 332,364 | 6,540,730 |
| Student financial aid | 573,460 | (404,051) | 9,929,449 | 13,372 | 541,358 | 10,653,588 |
| Total operating expense | $ 37,994,754 | $23,172,239 | $ 10,068,725 | $ 4,466,655 | $ - | $75,702,373 |