Condensed Statement of Revenues, Expenses and Changes in Net Position
| 2014 | 2013 | |
| OPERATING REVENUES | ||
| Student tuition and fees, net | $ 16,472,026 | $ 16,595,920 |
| Grants and contracts | 8,224,822 | 9,172,968 |
| Federal appropriations | 6,722,332 | 6,873,169 |
| Auxiliary enterprises | 6,195,424 | 6,065,393 |
| Other operating revenue | 1,096,045 | 1,131,620 |
| Total operating revenues | 38,710,649 | 39,839,070 |
| OPERATING EXPENSES | ||
| Educational and general | 67,691,056 | 64,595,994 |
| Auxiliary enterprises | 5,990,522 | 6,610,652 |
| Total operating expenses | 73,681,578 | 71,206,646 |
| OPERATING LOSS | (34,970,929) | (31,367,576) |
| NONOPERATING REVENUES | ||
| (EXPENSES) | ||
| State appropriations | 23,537,400 | 23,537,402 |
| Federal grants and contracts | 5,928,036 | 5,922,954 |
| Investment income (loss) | 1,700,270 | 1,150,833 |
| Interest on capital asset – related debt | (317,534) | (276,050) |
| Other | 71,352 | 583,269 |
| Endowment gifts | 12,676 | 7,276 |
| Total non-operating revenues | 30,932,200 | 30,925,684 |
| Total in net position | (4,038,729) | (441,892) |
| Net position, beginning of year | 114,056,265 | 114,498,157 |
| Net position, end of year | $ 110,017,536 | $ 114,056,265 |