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Published: Friday, 10/12/2007

UT records $7.2 million net loss during 2006

The University of Toledo had total operating revenue of $550 million and operating expenses of $668.2 million for the last fiscal year, according to a financial audit released yesterday.

However, UT also received $110.9 million in state education funding, which reduced its net loss to $7.2 million.

It ended the year on June 30 with $550.2 million in net assets, a total increase of $29.9 million from the previous year.

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