by Mindy Aguon
Guam - The University of Guam is making the grade when it comes to its finances. In Fiscal Year 2009 the institution of higher learning saw a $1.3 million increase in net assets and $3 million more in grants and contracts. Top that off with the highest enrollment in ten years and UOG President Dr. Robert Underwood says the many positive outcomes enable the university to look to the future with confidence.
The audit only noted deficiencies with the financial close process and concerns with questioned costs for one employee's salary paid with a federal grant. This is the fifth consecutive year UOG maintained its low-risk audit status.