Albuquerque Journal (Albuquerque, NM)

NMHU Deficit Smaller Than Expected.

Byline: Diana Heil Journal Staff Writer

* $554,000 apparently doesn't include $1 million in capital spending not reimbursed by state

New Mexico Highlands University last week said its general-fund deficit for the 1999-2000 fiscal year was $554,000, which is $144,000 less than the Las Vegas, N.M., school reported this summer.

But the figure, which the school reported via e-mail from the school's press office on Nov. 1, apparently doesn't include more than $1 million in capital expenditures made by the school but not reimbursed by the state.

Previously, the deficit in the general fund was estimated at $698,000 plus the more than $1 million.

The school's financial books for the 1999-2000 year were closed at noon on Wednesday, two months later than President Selimo Rael expected. …

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