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Post by edcrane on Apr 22, 2013 8:36:32 GMT -6
GSU's Black and Gold Facilities organization ran $1.15 million deficit in 2012www.thenewsstar.com/article/20130422/NEWS01/130422005/GSU-s-Black-Gold-Facilities-organization-ran-1-15-million-deficit-2012An independent audit of Grambling State University’s Black and Gold Facilities found the organization ran a $1.15 deficit during the 2012 fiscal year, which pushed its net assets to $5.4 million in the red. Black and Gold Facilities is a private nonprofit organization that was formed to promote and assist the university by overseeing facilities on the university campus. Grambling’s Black and Gold Facilities began the 2012 fiscal year with a deficit net asset balance of $3.3 million. Total change in net assets during the 2012 fiscal year was $2.1 million, resulting in the deficit net asset balance of $5.4 million at the close of the fiscal year. It ended the fiscal year with $1.4 million in cash and cash equivalents. It has cash reserves of approximately $12.68 million. “It is the opinion of management that the Facilities has sufficient operating revenues that will enable it to continue to exist,” according to the audit.
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Post by gmanwest on Apr 22, 2013 19:06:26 GMT -6
GSU's Black and Gold Facilities organization ran $1.15 million deficit in 2012www.thenewsstar.com/article/20130422/NEWS01/130422005/GSU-s-Black-Gold-Facilities-organization-ran-1-15-million-deficit-2012An independent audit of Grambling State University’s Black and Gold Facilities found the organization ran a $1.15 deficit during the 2012 fiscal year, which pushed its net assets to $5.4 million in the red. Black and Gold Facilities is a private nonprofit organization that was formed to promote and assist the university by overseeing facilities on the university campus. Grambling’s Black and Gold Facilities began the 2012 fiscal year with a deficit net asset balance of $3.3 million. Total change in net assets during the 2012 fiscal year was $2.1 million, resulting in the deficit net asset balance of $5.4 million at the close of the fiscal year. It ended the fiscal year with $1.4 million in cash and cash equivalents. It has cash reserves of approximately $12.68 million. “It is the opinion of management that the Facilities has sufficient operating revenues that will enable it to continue to exist,” according to the audit. I wonder if our administration care to explain this?......Every year around April- July the Newsstar and the Shreveporttimes seem to look for a negative article to print about us......Now I am not excusing our administration one bit,but I be damn if I won't be looking to see whether those same papers publish a negative article on ULM and La Tech.
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Post by edcrane on Apr 23, 2013 8:02:35 GMT -6
GSU's Black and Gold Facilities organization ran $1.15 million deficit in 2012www.thenewsstar.com/article/20130422/NEWS01/130422005/GSU-s-Black-Gold-Facilities-organization-ran-1-15-million-deficit-2012An independent audit of Grambling State University’s Black and Gold Facilities found the organization ran a $1.15 deficit during the 2012 fiscal year, which pushed its net assets to $5.4 million in the red. Black and Gold Facilities is a private nonprofit organization that was formed to promote and assist the university by overseeing facilities on the university campus. Grambling’s Black and Gold Facilities began the 2012 fiscal year with a deficit net asset balance of $3.3 million. Total change in net assets during the 2012 fiscal year was $2.1 million, resulting in the deficit net asset balance of $5.4 million at the close of the fiscal year. It ended the fiscal year with $1.4 million in cash and cash equivalents. It has cash reserves of approximately $12.68 million. “It is the opinion of management that the Facilities has sufficient operating revenues that will enable it to continue to exist,” according to the audit. I wonder if our administration care to explain this?......Every year around April- July the Newsstar and the Shreveporttimes seem to look for a negative article to print about us......Now I am not excusing our administration one bit,but I be d**n if I won't be looking to see whether those same papers publish a negative article on ULM and La Tech. Their is no need to worry. If I'm correct 1M of the 1.15M deficit comes from when the university was handed over the old Ruston State School property and they used it to spruce up the campus. I went over to the West Campus the last time I was down and it looks great.
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Post by gmanwest on Apr 23, 2013 9:32:53 GMT -6
I wonder if our administration care to explain this?......Every year around April- July the Newsstar and the Shreveporttimes seem to look for a negative article to print about us......Now I am not excusing our administration one bit,but I be d**n if I won't be looking to see whether those same papers publish a negative article on ULM and La Tech. Their is no need to worry. If I'm correct 1M of the 1.15M deficit comes from when the university was handed over the old Ruston State School property and they used it to spruce up the campus. I went over to the West Campus the last time I was down and it looks great. Oh,it's a reason too worry.
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Post by edcrane on Apr 23, 2013 13:59:02 GMT -6
Their is no need to worry. If I'm correct 1M of the 1.15M deficit comes from when the university was handed over the old Ruston State School property and they used it to spruce up the campus. I went over to the West Campus the last time I was down and it looks great. Oh,it's a reason too worry. Not really.
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