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Showing results for tags 'UNT Finances'.
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The University of North Texas is not obligated to repay an estimated $83 million in excess funding revealed in a state audit in 2014, officials have confirmed. The university already has paid $4.7 million to the state, but the remaining balance in excess fees does not have to be repaid because of legislative action this past session. The $83,461,691 originally reported was for excess funding estimated in a state audit examining the university’s finances from 2004 through 2012. In response to the audit’s findings, then-Gov. Rick Perry instructed all state universities in May 2014 to audit state funding they had received for the past three fiscal years. The General Appropriations Act passed last legislative session also required all Texas universities to conduct and submit an internal audit of all employee benefits for the past three years by no later than Aug. 31, 2016. Bob Brown, UNT’s vice president for finance and administration, confirmed the reports this week in his office. read more: http://www.dentonrc.com/local-news/local-news-headlines/20150814-unt-not-obliged-to-repay-83m.ece
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DALLAS — University of North Texas officials project that the school will have a $12 million surplus in fiscal year 2015, the first surplus at the university in recent years. Preliminary budget summaries for UNT, the UNT System and other campuses were presented to the Board of Regents on Monday, before the finalized budgets are brought back to the board for approval next month. They are the first budgets created since officials learned about financial mismanagement at UNT and the system, which included UNT misusing $83.5 million of state funds over 10 years and reporting in the budget that UNT had $23 million it really did not have. The errors have led to a financial overhaul, and the new budgets are more conservative and reliable than in previous years, said Janet Waldron, vice chancellor for finance. Read more: http://www.dentonrc.com/local-news/local-news-headlines/20140728-unt-budgets-for-surplus-funds-in-15.ece
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"We take our fiscal responsibility to our constituents very seriously," said A&M Executive Vice Chancellor Billy Hamilton in an emailed statement. "Outside our customary checks and balances, we have asked our leadership to reexamine their books given the unfortunate news from another state university system. In addition, our internal audit team will begin a formal review process with all TAMUS entities in the next two weeks." Read more: http://www.theeagle.com/news/local/texas-a-m-launching-audit-in-wake-of-unt-expenses/article_d5229d88-860e-56d5-bf50-add66d0d147c.html?mode=jqm -
The University of North Texas will make cuts of 2 or 3 percent next year to cope with budget shortfalls, President Neal Smatresk told faculty this afternoon. He also said that for the past six years, the Denton campus has spent money it doesn’t have. That information comes from Jenna Duncan at our sister publication, the Denton Record-Chronicle. Jenna is live-tweeting from the Faculty Senate meeting where Smatresk is delivering the bad news. Read more: http://educationblog.dallasnews.com/2014/05/unt-president-announces-budget-cuts-in-wake-of-financial-problems.html/