The Chronicle News Blog: Blistering Audit Blames Israeli Universities for Hiding Multibillion-Dollar Deficits
Jerusalem — Israel’s universities have been accused of hiding huge budget deficits and of fiscal mismanagement in a scathing report by the country’s state comptroller, who oversees public institutions.
The official, Micha Lindenstrauss, said the country’s publicly financed universities ran up a deficit of 17.9 billion shekels (nearly $4.5-billion) last year but reported a deficit of only 1.59 billion shekels (about $400-million).
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