Issue link: http://tcnj.uberflip.com/i/634419
EXECUTIVE SUMMARY JUNE 30, 2015 TCNJ FINANCIAL HIGHLIGHTS CON'T. e College's revenues totaled $264 million, an increase of $11.3 million, or 4.3 percent for fiscal year 2015. e increase was due mainly to increases in tuition and fees, capital grants, and government grants and contracts. Gross Tuition and Fees NJ State Appropriations Gross Auxiliary Activities Gov't Grants and Contracts Investment Income Capital Grants and Gifts Other 44% 21% 21% 7% 2% 3% 2% FY14 REVENUE $253 MILLION 6% 3% 44% 20% 7% 19% 1% FY15 REVENUE $264 MILLION Direct Student Support Operation and Maintenance of Plant Institutional Support Auxiliary Activities Depreciation and Loss on Disposal Assets Interest Expense Public Service and Other FY15 EXPENSE $250 MILLION 52% 11% 7% 12% 8% 7% 3% FY14 EXPENSE $244 MILLION 51% 10% 5% 13% 11% 7% 3% 3 Expenses totaled $250 million, an increase of $6.0 million over the previous year, primarily due to the first-time recognition of pension expense in fiscal year 2015 with the adoption of GASB 68. In addition, there were increased costs associated contractual salaries and fringe benefits, computer related purchases and emergency repairs for maintenance projects. ese increases were partially offset by a one- time non-cash loss of $5.4 million on disposal of capital assets in fiscal year 2014.