MGB: Auditors recommend UNT pay back $75.6 million

[Brett Vito]

MGB:

http://meangreenblog.dentonrc.com/2014/09/thursday-morning-news-and-notes-unt-may-have-to-pay-back-75-6-million.html/

[keith]

Let me guess....the auditors are SMU grads?

[meangreenacct]

Can the repayments be made through garnishment of Chancellor salary?

[MeanGreenGlory]

[LongJim]

So, this crap has been going on for years, and yet, state auditors could not find discrepancies during this entire time?? It took an anonymous phone call?

[Ben Gooding]

Holy hell... RAISE. THE. STUDENT. FEE. What is wrong with these people. We have a right above FCS-level student fee and we expect to sustain athletic success? Or create it for that matter? The people not in favor of the raise can keep their belly aching about athletics to themselves as far as I'm concerned. Money = success in today's modern college athletics. Raise the fee!!!! If UNT has to pay this back, as they should, the first budget to get squeezed is going to be...

[Stan R]

jimminy christmas.

[Harry]

And the people responsible for this get to resign honorably and keep their retirement packages etc... Makes me sick. Wouldn't surprise me to hear baseball gets postponed again.

[Ben Gooding]

People responsible for this should be serving time. How they are not is beyond me.

[KRAM1]

While the overall situation is certainly not good, this newest report from the auditors provides a dollar amount several millions BELOW what was originally expected...which, of course is good news. And, UNT officials believe the figure will be even lower than it currently is when final reports and comments are submitted.

The other "good news" concerning this unfortunate mess is that UNT has now a balanced budget, much stronger financial procedures and some very good new finance and budget officers.

While challenging to say the least, it is good that the old practices were stopped and that better procedures are now in place. The repayment will take place over a 10 year period....IF, in fact, UNT is required to pay it all back. And, repayment and amount of repayment has yet to be determined.

Word is that several other Texas state supported universities are quickly and quietly reviewing their procedures in this regard as well...and holding their collective breaths. Rumor is that UNT was not alone in such procedures. But, I really don't care about other universities...it is UNT that matters here, and UNT is getting its financial and budget house in much better order.

[southsideguy]

Jackson should resign.

[NorthTexan95]

And the people responsible for this get to resign honorably and keep their retirement packages etc... Makes me sick. Wouldn't surprise me to hear baseball gets postponed again.

Correct.

[untjim1995]

Jackson should resign.

He just got an extension from the BOR...

[NorthTexan95]

I do feel much better with our new President taking things head on and doing some basic things link not budgeting 100% expected income and having external audits. I'm still pissed that our financial department could not do those two, simple, very basic things that any 1st year accounting student would know. Grrr!

[ChristopherRyanWilkes]

My buddy at UNT said his professor heard one idea being thrown around is doing a 1/3 2/3 plan and making 2/3 of an incoming class completely online so that they can increase enrollment without building new classrooms. I really hope his professor has some wrong information.

[Ben Gooding]

My buddy at UNT said his professor heard one idea being thrown around is doing a 1/3 2/3 plan and making 2/3 of an incoming class completely online so that they can increase enrollment without building new classrooms. I really hope his professor has some wrong information.

This is a horrible idea. I also don't think new classrooms need built anytime soon. There are plenty of classrooms.

[laxtonto]

So people are shocked the auditors say that they want UNT to pay it back? That is all fine and dandy, but the legislature will hedge knowing that if you force UNT to pay it back, so will several other schools out there that have enough political cache to make it go away.

This is one of those things that for some reason will be used as a negative tool or threat against UNT for a while, but nothing is likely to actually come of it.

[ChristopherRyanWilkes]

This is a horrible idea. I also don't think new classrooms need built anytime soon. There are plenty of classrooms.

I think this plan would mean that the current enrollment would be the 1/3, meaning a total enrollment of over 100,000 students. I agree it's an awful plan,trying to research if this has ever really happened with a university. Somebody chime in if they have ever heard of this plan before.

Edited September 25, 2014 by ChristopherRyanWilkes

[Green Mean]

Online programs and classes in general are great for all universities. It's far much cheaper to maintain and you still have a good amount of revenue coming. The more online programs and classes the better IMO.

[ChristopherRyanWilkes]

Online programs and classes in general are great for all universities. It's far much cheaper to maintain and you still have a good amount of revenue coming. The more online programs and classes the better IMO.

Sure to a certain extent, but if you expand it too much you will become known as a big online university which makes the school seem way less legitimate. It would be good for revenue but at what cost? I think if it goes too far it will cause our degree value to drop.

[ChristopherRyanWilkes]

I think that's the idea though, a cheap way to increase revenue.

[Ben Gooding]

A university can never, ever get the stamp of an online university.

[Ibleedgreen]

Online programs are profitable, but students come out with an inferior education.

[Green Mean]

Sure to a certain extent, but if you expand it too much you will become known as a big online university which makes the school seem way less legitimate. It would be good for revenue but at what cost? I think if it goes too far it will cause our degree value to drop.

With the way the world is becoming, at some point in the very near future big online universities will be valued the same as the opposite and that whole perception of online degrees will go away IMO.

[Eagle1855]

The University of Nice Try.