NMSU extends repayment schedule for athletic department | KOB 4
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NMSU extends repayment schedule for athletic department

NMSU extends repayment schedule for athletic department

The Associated Press
March 07, 2018 01:20 PM

LAS CRUCES, N.M. (AP) - New Mexico State University will extend the timeframe for the athletic department to repay the more than $4 million owed to the main campus.

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The Las Cruces Sun-News reports the university's board of regents on Tuesday agreed to extend the repayment plan through 2026, and it plans to re-evaluate the extension in three years.

The department had been expected to pay off its debt by 2021. The Tuesday action by the board will be reviewed by the state Department of Higher Education.

The Athletic Review Committee had also proposed for the board to transfer more than $1 million from the university's instruction and general fund to the athletics department. The proposal had elicited sharp criticism from faculty and students.

The board did not act on the proposal Tuesday.

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The Associated Press

Copyright 2018 The Associated Press. All rights reserved.

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