Profiles of Existing Government Corporations - US Government ...

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137
CORFORATION PROFILE
AF?IL,IATIID AGXNCIRS: The Secretary of Education carriae out
certain federal reeponeibilitioe for Wo. The University shall at
all timas be open to the Department of Education and shall be
inspected by thm said Departrant at least onto each year. HU is
authorized to make purchases through the General Services
Adminietration.
SODGET STATUS: HU is supported in part by fedora1 funds
appropriated in the budget of the Department of Education.
TRRASORY STATUS: Nom l pecified in enabling leqielation.
REPORTING STA'IQS: The President and Director8 of HU are roguirad
to report to the Secretary of Education on the condition of the
institution on the firet of July of each year.
LITIGATION STATUS: ?lU hae tbo authority to l ue and be sued.
PINANCIALADDIT RX-: Nono l pmifhd in enabling
legielation hovovar, the Preeidmt and Directors of HU are
required to report to the Secretary of Education on the condition
of the institution on the firet of July of each year. Thay muet
prepare a etatemont shoving the rocoipte and diebureomente of the
institution and a statement of changes in financial position.
PINANCUL AGDITOR: Peat Reruick Rain L co.
OTBLR AUDIT RRQUI-:
legielation.
Nono specified in enabling 1 1
OTRER AUDITOR: None specified in enabling legislation. I
AIJDITRD: Post narvick Rein t Co., Juno 30, 1988.
OPIRION: Unqualified
ACCODRTING PRINCIPLRS: Accounting records are maintained on an
accrual basis and financial l tatemonte are prepared i % accordance
with generally accepted accounting principles (GMP).
REVENURS: $410,657,997=
APPROPRUTIONS RXpRRDRD: $170,175,oS4=
EXPRNSRS: s307,o79,o7o=
NST INcaa (ms9): S23,570,927 (Excess of rwenu~e over
expandituree and transfers)
GRANTS ISSDRD: Not dotoreinablo
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