Revenues, Gains and Other Support 2022 2021
Tuition and fees $ 45,590 $ 43,329
Less scholarships (4,402) (4,316)
Net revenue from tuition and fees 41,188 39,013
Contributions 6,304 7,168
Auxiliary programs 1,637 1,001
Other 194 129
Investment (loss) income (11,211) 17,307
TOTAL REVENUE $ 38,112 $ 64,618
Expenses
Salaries, wages and benefits $ 36,674 $ 37,251
Operating expenses 8,854 5,541
Facilities and operations 2,975 2,738
Debt service costs 429 363
Depreciation and amortization 3,345 3,245
TOTAL EXPENSES $ 52,277 $ 49,138
Consolidated Statement of Activities
and Changes in Net Assets
(Years Ended June 30, 2022 and 2021)
(Dollars in thousands)
(Decrease) Increase in Net Assets — Before other changes in net assets ($ 14,165) $ 15,480
Other Changes in Net Assets
Gain on interest rate swaps
Change in postretirement benefits not yet recognized in operations
Gain on High Jump PPP loan forgiveness
1,386
253
-
561
125
194
(Decrease) Increase in Net Assets ($ 12,526) $ 16,360
Net Assets — Beginning of year $ 120,175 $ 103,815
Net Assets — End of year $ 107,649 $ 120,175
A N N UA L R E P O R T 2 0 2 1 – 2 2 7
