In its statement of revenue and expenditures NMC reported $8.4 million in total expenditures and $9.6 million in revenues.
Student expenses, which included stipends, work study wages, Pell awards and others, totaled $2.6 million, according to the statement.
The travel expenses for administrative, instructional, recruitment and repatriation purposes, as well as staff training and development, comprised the third highest expenditure: $442,853.
The statement showed that NMC acquired $2.6 million from tuition, $2.5 million from local appropriation and $3.7 million from federal grants.
NMC’s other revenue earners included its general course fee, $439,080; program revenue, $95,889; indirect revenue, $94,159; education tax contributions, $54,057; registration fee, $40,620; and laboratory fee, $26,595.
The statement also showed that NMC spent $327,637 on retirement contributions; $317,341, professional services contracts; $64,952, office equipment; $61,658, licenses; and $60,642, office supplies.
NMC said it had a net revenue of $1,213,644 during the same period.
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