Management's Discussion and Analysis, continued
June 30, 2015
In addition to the Primary Mission expenses of the University, there are expenses from depreciation and operations and maintenance that are allocated to the various functional classifications (See note 12 – Schedule of Expenses by Program). See below for the operating expenses categorized into the Functional Expenses of the University.
(Percentages below include depreciation and operations/maintenance allocations.)
The University continued to invest in student aid and support services to provide students with opportunities to be successful in fiscal 2015. For the year ended June 30, 2015, student aid expenses totaled $7.6 million and scholarship allowances totaled $5.4 million.
The University had an overall decrease in institutional support of $2.4 million, which was consistent with the overall expenditure reduction university wide. The large expenditures in the primary areas of instruction, research and student services, in conjunction with minimal increases to fixed cost areas, confirms the University resource allocations are clearly aligned with the University's strategic priorities to support academic and student excellence.
The net loss from operations for the year amounted to $33.7 million. Non-operating revenues, net of expenses, amounted to $28.4 million, resulting in a decrease in income before other revenues, expenses, gains or loss of $5.2 million for the year. Non-operating revenues include state appropriations of $23.4 million, non-operating federal grants and contracts of $5.0 million, gifts of $5 thousand and investment income of $280 thousand.
The Statement of Cash Flows presents information related to the University's cash inflows and outflows summarized by operating activities, noncapital financing activities, capital financing activities and investing activities. The primary purpose of the Statement of Cash Flows is to provide information about the cash receipts and cash payments made by the University during the year, to allow financial statement readers to assess the University's ability to generate future net cash flows, its ability to meet obligations as they become due and its possible need for external financing.