Audit: UNC-CH has $2.2 billion in assets

CHAPEL HILL – UNC-Chapel Hill reported net assets for the 2004 fiscal year of $2.2 billion, an increase of $216 million, according to an audit recently released by State Auditor Les Merritt. That same audit also cited reporting violations at UNC-Chapel Hill regarding the institution’s noncompliance with the state’s daily deposit and reporting law. In spite of these minor auditing violations, the report states that the school’s financial position “remained solid.” “Management’s view is that the [u]niversity is well positioned to continue demonstrating excellence in teaching, discovery, and public service,” the audit states.