As of June 30, 2012, the University’s last complete fiscal year, total net assets were $115.6 million. For the 2012–13 academic year, the annual operating budget is $101.6 million. The University has a long history of favorable audit opinions from its independent auditor and consistently generates an operating surplus. As of December 31, 2012 the institution’s endowment stood at $21.6 million.