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Headlines
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Written by Our Senior Staff
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Tuesday, 19 June 2012 21:49 |
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A detailed and comprehensive budget performance representing fiscal year 2011 has been released by the University of Liberia. The financial statements for the twelve months have been prepared in accordance with the institution’s code of financial reporting policies.
The report said the approved budget amounted to US$16.8 million of which the government pledged US$9.8million. More than anticipated, according to the report the government contributed US$10.2 million. The remaining 40.5 percent was forecast to come from internal income generation including tuition, fees and donations, etc.
According to the report the actual revenue received as at June 30, 2011 amounted to US$17.8 million or US$1.0 million above the approved budget of US$16.8 million. Tuition and fees contributed US$6.1 million while both internally and externally generated income as well as interest income combined to supply US$1.045 million.
The report puts the real expenditures for the period under review at US$16.3 million about 1 8.6 percent or US$1.1 million below the period budget of US$16.3 million. The report said donors and humanitarian organizations including the national Oil Company of Liberia (NOCAL) and Arcelor Mittal provided US$775,000.
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