Eastern New Mexico University-Roswell ended its previous fiscal year in a better position than expected.
The ending balance for current funds for the 2016-17 fiscal year, which was completed June 30, was $6,806,372.
That was $1,567,267 over what was expected to be the year-end position when the university prepared its final budget, according to a report presented at last week’s meetings of the ENMU-R Community College Board and the ENMU Board of Regents.
Total ending balances, including capital outlay, endowment and other funds, were $21,825,458, up from an expected $20,400,813.
The increases were due to a few factors. The university experienced $1,888,739 in expense savings for the 2015-16 fiscal year. Those savings boosted beginning balances for 2016-17 but were not applied until after an audit.
Tuition and fees also were $156,198 higher than budgeted, while instruction and general expenditures decreased $1,379,280 as a result of savings realized by reducing expenses and not filling vacant positions.
Total revenues for the year were $27,077,911, while total expenditures were $26,105,006.
The 2017-18 initial budget, passed in April, projected operating revenues of $16,765,289 and operating expenditures of $17,039,713. At that time, university officials were expecting to have about $4.5 million in surplus funds by June 30, 2018.