WVU BOG hears Fiscal 2011 was a "good year"
Source:wvutoday, Monday, September 12, 2011
The just-concluded fiscal year proved to be a good one financially for West Virginia University with income 7.7 percent higher than anticipated, and the institution’s net assets increasing $22.8 million, based on unaudited financial statements.
For the year ended June 30, the University had revenue of $955 million against expenses of $932 million, Vice President of Administration and Finance Narvel Weese reported to the Board of Governors Friday (Sept. 9).
“It’s important to remember that we have been able to strengthen the University financially in what is an otherwise cloudy and uncertain economic environment,” Weese said. “Many things have contributed to this performance, but overall it is reflective of the hard work and skill of all our employees, plus the growing appreciation – and drawing power – of WVU.”
Although cautioning that it’s still early, Weese said the FY2012 looks promising as well.