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The University of North Texas system will skate on a bill for $70 million in public money that it received and then spent on ineligible employee pay and benefits.
The university system collected the cash between 2004 and 2014 because of its poor accounting and other factors, state auditors said.
Auditors said misuse of the money “involved a coordinated effort at the university” but found no evidence of malfeasance.
Several months before the state auditor’s findings were announced, three of UNT’s top financial officials resigned, citing personal reasons.
The school has also promised that it will boost revenue through tuition increases in the future:
originally posted by: AboveBoard
Why not $70 million in student loan debt suddenly forgiven???
Oh wait, even Bankruptcy will not let you forgive that...