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School of Medicine reduces debt

Art Nadler

Thursday, April 29, 1999 | 11:13 a.m.

The University of Nevada School of Medicine has taken a major bite out of its debt, the university's financial officer told the Board of Regents Wednesday.

Ashok Dhingra, vice president of administration and finance, said the school should only be in the red $207,000 by the end of the year. Last fiscal year, from July 1, 1997 to June 30, 1998, the school was operating at a loss of $2.2 million.

"That's quite a progress in one year," Dhingra said. "This February, we were operating in the black."

The school accumulated a deficit from its "practice plan," a program through which faculty physicians treat patients and generate profit for the school.

Dhingra told the board in January the deficit would be $218,000 by the end of the year. But yesterday, based on February and March statements, he was able to reduce that projection to $207,000.

Dhingra said he expects the school's faculty to soon start generating $150,000 in profit each month. He predicts the school will build up a surplus of $1.8 million by fiscal year July 1, 1999 to June 30, 2000.

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