A State of Florida Auditor General report indicated ‘significant deficiencies’ in some financial reporting at UNF.
The report, which was released in March, specifically questions a credit line the University extended to the Museum of Contemporary Art in Jacksonville.
The report states a line of credit, which was worth up to $500,000, was opened by the University on May 15, 2009.
It also states the University had not received any repayments from MOCA as of June 30, 2012.
The report indicates Auxiliary funds were used to open the credit line.
Email Gordon Rhyne at news@unfspinnaker.com
