2023-PresReport-Financials-FNL-singles-web

PRESIDENT’S REPORT

2022-23 FINANCIAL OPERATIONS

TOTAL OPERATING REVENUE, GAINS AND OTHER SUPPORT * 2022-23

2021-22

2020-21

Tuition and fees, net of student aid

$ 245,416,580

$ 236,887,757

$ 247,952,923

Grants and contracts

29,357,747 23,836,285 30,385,635 57,930,505 10,205,393

29,021,171 34,502,212 23,064,371 49,040,810 9,937,744

22,517,933 18,004,823 25,370,948 16,556,561 3,540,842

Contributions

Investment income, net

Sales and services of auxiliary enterprises

Athletics, recreation and other

Total

$ 397,132,143

$ 382,454,065

$ 333,944,030

OPERATING FUNCTIONAL EXPENSES *

2022-23

2021-22

2020-21

Educational and program expenses Auxiliary enterprise expenditures Management and general expenses

$ 252,557,954

$ 227,147,765

$ 202,470,136

50,685,416 91,828,075

44,532,955 81,179,384

38,816,129 61,518,606

Total

$ 395,071,444

$ 352,860,105

$ 302,804,871

INCREASE IN COMBINED NET ASSETS *

2022-23

2021-22

2020-21

Unrestricted net assets

$ 28,513,576

$ (14,624,800)

$ 144,990,217

Temporarily restricted net assets Permanently restricted net assets

(11,403,777) 11,800,833

(31,385,169) 20,335,375

82,700,155 8,600,533

Overall increase in net assets

$ 28,910,632

$ (25,674,594)

$ 236,290,904

*Statement of activities by combined net asset categories for the fiscal year ending June 30.