| NDSU Debt Increasing |
| 11/17/2008 |
| Financial figures show North Dakota State University has nearly 118 million dollars in debt, which is more than double the amount five years ago. John Adams is NDSU`s vice president for finance and administration. He says a growing enrollment means more revenue and the ability to absorb more debt. The school plans to ask the Legislature next year for permission to borrow another 20 million dollars to build campus apartments. Adams says NDSU spent 2.3 percent of its operating budget on interest payments in fiscal year 2007. He says the school seeks to keep that ratio under 5 percent. A financial review by the North Dakota University System says NDSU should carefully evaluate the impact of more debt. The report gives similar advice to the University of North Dakota. UND had 105 million dollars of debt as of June 30. It spent nearly 2.5 percent of its operating budget on interest payments in fiscal year 2007. |
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