FY2026 Budget Update

The following budget report of Education, General, and Auxiliary operations reflect revenue and expenditures through October 31, 2025, with projections through June 30, 2026.

Total revenue is trending slightly ahead of budget, with a higher discount rate for scholarships and waivers that will lower overall net tuition revenue for the year. Offsetting endowment proceeds in support of scholarships and salaries, combined with the use of the contingency fund and a reduction in operating expenses, results in current projection of $538,197 at June 30, 2026. Given the positive trend in admissions applications for both the residential and online programs for the spring, we anticipate an increase in net tuition revenue that will improve the current year-end projections. An amended budget will be presented to the Board of Regents after spring enrollment is confirmed.