| Changes in
Unrestricted Net Assets |
| Operating
revenues | 2005 | 2004 |
Tuition and fees
| $345,700,716 | $319,828,187 |
| Less scholarship allowance | (100,684,688) | (89,576,136) |
| Net tuition and fees | 245,016,028 | 230,252,051 |
| Investment return utilized | 11,413,734 | 10,163,451 |
| Private gifts, grants and contracts | 8,117,172 | 8,804,590 |
| Government grants and contratcs | 16,266,210 | 15,602,706 |
| Auxiliary enterprises | 30,969,740 | 29,750,394 |
| Other revenues | 9,099,278 | 9,176,015 |
| Net assets released from restrictions | 10,250,040 | 11,048,238 |
| Total Operating Revenues | 331,132,202 | 314,797,445 |
| | | |
| Operating
expenses | | |
| Instruction | 116,525,771 | 109,713,104 |
| Research | 8,948,212 | 7,705,592 |
| Academic support | 46,319,299 | 45,121,801 |
| Student services | 28,304,595 | 27,243,156 |
| Institutional support | 71,282,415 | 67,648,439 |
| Auxiliary enterprises | 45,732,565 | 44,087,683 |
| Total Operating Expenses | 317,112,857 | 301,519,775 |
| Excess of operating revenues over operating
expenses | 14,019,345 | 13,277,670 |
| | | |
| Nonoperating
activities | | |
| Investment return in excess of amount utilized in
operations | 16,640,048 | 29,165,572 |
| Voluntary Separation Offer charge | (2,449,724) | --- |
| Net loss on disposal of fixed assets | (1,520,880) | --- |
| Effect of advance refunding of long-term
debt | (5,029,332) | --- |
| Increase (Decrease) in Unrestricted Net
Assets | 21,659,457 | 42,443,242 |
| | | |
| Changes in Temporarily
Restricted Net Assets |
| Investment return | 1,367,713 | 1,517,761 |
| Private gifts, grants and contracts | 1,739,671 | 10,489,263 |
| Adjustment to contributions receivable | (294,220) | (1,141,509) |
| Net assets released from restrictions | (10,250,040) | (11,048,238) |
| Decrease in Temporarily Restricted Net
Assets | (7,436,876) | (182,723) |
| | | |
| Changes in Permanently
Restricted Net Assets |
| Private gifts, grants and contracts | 4,649,848 | 3,284,744 |
| Increase in permanently restricted net
assets | 4,649,848 | 3,284,744 |
| Increase in net assets | 18,872,429 | 45,545,263 |
| Net assets at beginning of
year | 345,213,741 | 299,668,478 |
| Net assets at end of year | $364,086,170 | $345,213,741 |