WILMINGTON, N.C. (WECT) -UNCW has received a clean audit opinion for the fiscal year, according to a report from the NC Office of the State Auditor.

According to the report, no material errors appeared in the university’s financial records.

The university reported revenues of $610 million and expenses of $516 million for fiscal year 2025. The university’s total net position increased by $93.6 million during the year, reaching $778.1 million.

The report further states that UNCW’s fall 2024 headcount was 18,848, a 4.8% increase from fall 2023, and that total enrollment was 19,895.

The report attributes the $12.6 million growth in state appropriations to enrollment increases, other recurring budget adjustments such as legislative increases, and non-recurring adjustments.

Projects completed at UNCW totaled $79 million, which included the Randall Library renovations and expansion at $58.9 million, Alderman Hall and King Hall renovations at $10 million, and Brooks Baseball Field renovations at $4.5 million.

The university kept the tuition the same for continuously enrolled students for four years. UNCW is in its eighth year of a fixed tuition program for undergraduate resident students, which is expected to last for a decade.

The net position of endowments increased from $162.1 million to $178.4 million. The UNC Investment Fund earned $18.2 million in investment earnings during fiscal year 2025, with a 10-year annualized return of 9.7%.

Endowments primarily supported student scholarships (53%), professorships (19%), and academics (17%).

Salaries and benefits accounted for 60% of operating expenses, totaling $305.9 million. Instruction remains the most significant expense by function at 36%.

To read the full report, click here.

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