Total operating revenues were $39.9 million for the year ended June 30, 2020, as compared with $35.0 million in FY19. The primary components of operating revenue were federal, state and local grants and contracts of $23.4 million (58.6%), student tuition and fees, net, of $10.3 million (25.8%) and auxiliary services and other revenues of $6.2 million (15.6%). FY20 net student tuition and fees revenue increased by $0.6 million compared to FY19. FY20 grants and contracts of revenue increased $3.8 million compared to FY19 due to increased awards and spending. FY20 auxiliary services and other revenue increased $587,218 compared to FY19. Refer to Figure 1 for the two-year trend of the operating revenues as a percent to total operating revenues and revenue by category.
Operating expenses totaled $68.5 million, a decrease of $2.2 from last year. Of this amount, $41.7 million (60%) was expended directly for the primary mission of the University – instruction (13%), research (10%), student services (12%), student aid (12%), and public service (13%). Instruction is the main component of Primary Mission expenses amounting to $9.8 million in fiscal year 2020 or 13%. Refer to Figure 2 for the operating expenses categorized into the Primary Mission of the University.
(Percentages below do not include depreciation or operations/maintenance allocations.)
Figure 2
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