Has the economy put North Carolina’s largest public colleges and universities on shaky financial footing? Not so, says a recent article in Triangle Business Journal (subscription required). The article reviewed recent state audits of North Carolina State University, East Carolina University and UNC-Chapel Hill. It found:
Despite lean times in Raleigh, state contributions to all three institutions actually rose in fiscal 2010, as lawmakers continued to fund growth.
At UNC the state contribution figure inched higher by a mere .6 percent, to $542 million. NCSU fared better with a 23 percent increase to $472 million, while at ECU, state appropriations rose by 9 percent, to $263 million.
Despite the current gloom and doom, the audits suggest all three institutions are weathering the downturn — and even prospering. So much for conventional wisdom.