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| Hilo, Hawaii News, Sports, & Information |
Sunday, May 19, 2013 |
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Posted: Friday, March 22nd, 2013 12:01 PM HST
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UH chancellor to ask deficit forgiveness
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HONOLULU (AP) — The chancellor of the University of Hawaii at Manoa plans to ask the Board of Regents to forgive a more than $11 million athletics department deficit.
The Honolulu Star-Advertiser reports that Chancellor Tom Apple hopes to have the deficit forgiven as part of a major restructuring effort.
An independent auditor found that the athletic department's deficit has been mounting since 2002 and stood at $11.3 million in January. It is expected to hit $13 million by the end of the current fiscal year June 30.
John Holzman, chairman of UH's Task Group on Intercollegiate Athletics, requested that Apple provide a plan to balance the books and deal with the deficit.
Apple says he expects regents to take up the plan at their next meeting.
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