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UNT finances could be better than expected

Harry

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Harry Grand Master

Harry

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DALLAS — The University of North Texas might not be in as big a financial hole as officials thought in April, financial consultants told a group of UNT System regents Tuesday.

A few months ago, it looked like UNT would need to shave $23.2 million from anticipated revenues in its 2013 and 2014 financial statements.

Now, Blake Rodgers, an audit senior manager with consulting firm Deloitte and Touche, estimates the number will be closer to $13.5 million.

This means UNT has less ground to make up in future budgets than it thought earlier this year.

UNT hired Deloitte and Touche in February to help straighten out its finances and financial practices after discovering accounting problems dating back to 2004.

Rodgers said the earlier revenue estimate was off by $10 million because there was little supporting documentation of the financial problems.

read more: http://www.dentonrc.com/local-news/local-news-headlines/20140813-unt-finances-could-be-better-than-expected.ece

untjim1995 Grand Master

untjim1995

Posted
Posted

DALLAS — The University of North Texas might not be in as big a financial hole as officials thought in April, financial consultants told a group of UNT System regents Tuesday.

A few months ago, it looked like UNT would need to shave $23.2 million from anticipated revenues in its 2013 and 2014 financial statements.

Now, Blake Rodgers, an audit senior manager with consulting firm Deloitte and Touche, estimates the number will be closer to $13.5 million.

This means UNT has less ground to make up in future budgets than it thought earlier this year.

UNT hired Deloitte and Touche in February to help straighten out its finances and financial practices after discovering accounting problems dating back to 2004.

Rodgers said the earlier revenue estimate was off by $10 million because there was little supporting documentation of the financial problems.

read more: http://www.dentonrc.com/local-news/local-news-headlines/20140813-unt-finances-could-be-better-than-expected.ece

This is great news--now the athletic department shouldn't have to lose any funding for the upcoming year...

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