CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header

Local

UNT Overstated Fiscal Health By As Much As $23M

(Credit: University of North Texas)

(Credit: University of North Texas)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

179483733 10 UNT Overstated Fiscal Health By As Much As $23MRemembering Joan Rivers

181572784 8 UNT Overstated Fiscal Health By As Much As $23MFunny Faced Cheerleaders

 alt=Musicians Then And Now

452359772 10 UNT Overstated Fiscal Health By As Much As $23MBikini Model Pictures

 alt=New Survivor Cast Photos

cowb thumb UNT Overstated Fiscal Health By As Much As $23MCowboys Cheerleaders

DENTON (AP) – Financial documents released by the University of North Texas show accounting irregularities that have overstated the university’s financial position by as much as $23 million.

Audits conducted by the university and a private firm show misleading budget entries made since 2012 to account for unresolved collections. But they were registered as accounts receivable, which are often recorded as assets. The university’s budget in 2012 was $520 million.

The documents were obtained by the Denton Record-Chronicle through an open records request.

The audit by the private firm also found UNT inflated the amount of cash it had by $5.9 million.

The developments are another financial setback for UNT. In an unrelated matter, the university may have to repay millions for inappropriately using state money to pay some employee benefits.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending: