Finances Fiscal Year 1994, Year-End Actual (July1, 1993 to June 30, 1994)

                                    $  % of budget

Revenues:

Tuition and fees           32,666,225     66.6%
Governmental Grants         1,184,705      2.4
Gifts and private grants    2,464,440      5.0
Investment income           3,371,835      6.9
Other Income                1,570,900      3.2
Auxiliary enterprises       7,810,696     15.9
---------------------     -----------    -----
Total Revenues            $49,068,801    100.0

Expenditures:

Instruction                12,249,575     25.0
Research                      294,075      0.6
Public Service                150,002      0.3
Academic Support            3,304,413      6.7
Student Services            4,069,794      8.3
Institutional Support       7,824,104     15.9
Operation & Maintenance     4,040,411      8.2
Scholarships/Student Aid    7,764,265     15.8
Mandatory Transfers         1,296,473      2.6
Non-mandatory Transfers       706,608      1.4
-----------------------    ----------     ----
Total Educ. & General      41,700,220     85.0
Auxiliary Enterprises       7,368,422     15.0
----------------------     ----------     ----
Total Expenditures        $49,068,642    100.0

Net Surplus (Deficit)           $ 159

Educational and General Expenditures
     per Full-time Equivalent Student (1993/94)  $26,948


Total Investment Pool                        $96,935,537
(market value as of 6/30/94)

Investment Pool Market Value
     per Full-time Equivalent Student (6/30/94)  $61,023