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Story Archives: Liabilities outpace assets at ULM Facilities
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Liabilities outpace assets at ULM Facilities
A recent audit of University of Louisiana-Monroe Facilities Inc. showed total liabilities exceeded net assets by $7.9 million at the close of the 2010 fiscal year.
Total assets at the end of the 2010 fiscal year were $66.7 million while total liabilities were more than $74 million.
ULM Facilities Inc. is a non-profit corporation created in 2004 to oversee construction and finance the development of facilities on the ULM campus. ULM Facilities also is charged with overseeing the management of the university's facilities.
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