Finance (Budget/Tuition)

U of North Texas payroll scheme took $75.6M from state
Archived

Mon, Sep 29, 2014 - 9:20am

Dive Brief:

  • A report from Texas State Auditor John Keel says the University of North Texas should pay back at least $75.6 million that it received from the state by manipulating the payroll for university employees.
  • The excess funding was the result of a coordinated effort, and finance leaders at the university either should have known or did know that they were receiving more than they should, Keel reported.
  • The payroll manipulation may have started in the 1970s, the Dallas Morning News reported.

 

Dive Insight:

The university used two methods to...

State audit bad news for UNT
Archived

Fri, Sep 26, 2014 - 10:40am

The University of North Texas manipulated its payroll spending so that it received millions of extra dollars from the state over years — money the university should have to repay, according to an investigation from the State Auditor’s Office.

The auditor’s office recommends that the Legislature require UNT to repay the state at least $75.6 million over the next 10 years.

Receiving excess state funds “involved a coordinated effort at the university,” and senior UNT finance leaders “should have known, or did know” that the university consistently received more state money than it should have, according to the...

UNT should repay Texas at least $75.6 million, state auditor says
Archived

Thu, Sep 25, 2014 - 9:50am

The University of North Texas manipulated its payroll spending so that it received millions of extra dollars from the state over many years — money the university should repay, according to an investigation by the State Auditor’s Office.

The auditor’s office recommends that the Legislature require UNT to repay the state at least $75.6 million over the next 10 years.

Receiving excess state funds “involved a coordinated effort at the university,” and senior UNT finance leaders “should have known, or did know” that the university consistently received more state money than it should have, according to the investigative...

Smatresk addresses state of the school
Archived

Thu, Sep 18, 2014 - 11:04am

Neal Smatresk, president of the University of North Texas, has a long list of things to do this academic year.

In his first state of the university address, which was presented as a first for the college, Smatresk outlined clear goals for the academic year and the plans for implementation.

While he noted that his plans are ambitious, he encouraged Wednesday’s audience of faculty, staff and students at the Murchison Performing Arts Center that he will need help.

“This is a daunting list, but if we have a can-do attitude and we work as a team, we can change a lot. We can make it together, and it will be a...

Following Financial Scandal, New UNT President Promises Solid Fiscal Footing
Archived

Thu, Sep 18, 2014 - 10:59am

Neal Smatresk has only been UNT president since February. Soon after arriving, school officials found UNT had for a decade spent more than $83 million it shouldn’t have, and incorrectly figured on another $23 million coming in.  

Smatresk told his university audience that fixing the school’s budget has been Job One.

“Because if we can’t manage resources, well, we can’t reach our goals," he said. "Of course I got here, people set my hair on fire, and I can’t afford that."

Smatresk, who is slightly bald, hired a new financial director whose work he’s called miraculous.

They set about meeting UNT’s...