Condensed Statement of Revenues, Expenses and Changes in Net Position
| 2019 | 2018 | |
| REVENUES | ||
| Student tuition and fees, net | $ 9,710,046 | $ 11,525,935 |
| Grants and contracts | 19,615,052 | 18,672,021 |
| Auxiliary enterprises | 4,426,675 | 4,239,569 |
| Other operating revenue | 1,221,466 | - |
| Total operating revenues | 34,973,239 | 34,437,525 |
| EXPENSES | ||
| Educational and general | 65,992,835 | 62,301,199 |
| Auxiliary enterprises | 4,726,810 | 5,694,800 |
| Total operating expenses | 70,719,645 | 67,995,999 |
| Operating loss | (35,746,406) | (33,558,474) |
| NONOPERATING REVENUES (EXPENSES) | ||
| State appropriations | 25,749,000 | 26,462,300 |
| Federal grants and contracts | 4,261,886 | 4,391,839 |
| Investment income | 871,874 | 1,174,232 |
| Interest on capital asset – related debt | (276,798) | (236,690) |
| Other | - | 971,372 |
| Total non-operating revenues | 30,605,962 | 32,763,053 |
| Loss before capital appropriations | (5,140,444) | (795,421) |
| Capital appropriations | 151,277 | 3,548,918 |
| Change in net position | (4,989,167) | 2,753,497 |
| NET POSITION | ||
| Net position, beginning of year | 1,077,522 | (1,675,975) |
| Net position, end of year | $ (3,911,645) | $ 1,077,522 |
6.