Revenues, Gains and Other Support 2020 2019
Tuition and fees $ 42,048 $ 40,508
Less scholarships (4,096) (3,995)
Net revenue from tuition and fees 37,952 36,513
Contributions 8,160 9,108
Auxiliary programs 730 2,020
Other 279 399
Investment income (loss) (270) 2,403
TOTAL REVENUE $ 46,851 $ 50,443
Expenses
Salaries, wages and benefits $ 35,132 $ 34,157
Operating expenses 6,891 7,817
Facilities and operations 2,036 2,303
Debt service costs 709 886
Depreciation 3,257 3,116
TOTAL EXPENSES $ 48,025 $ 48,279
Consolidated Statement of Activities
and Changes in Net Assets
(Years Ended June 30, 2020 and 2019)
(Dollars in thousands)
(Decrease) Increase in Net Assets — Before other changes in net assets ($ 1,174) $ 2,164
Other Changes in Net Assets
Loss on interest rate swap
Change in postretirement benefits not yet recognized in operations
(1,702)
(286)
(1,333)
(247)
(Decrease) Increase in Net Assets ($ 3,162) $ 584
Net Assets — Beginning of year $ 106,977 $ 106,393
Net Assets — End of year $ 103,815 $ $ 106,977
A N N UA L R E P O R T 2 0 1 9 – 2 0
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