Financial Deficit at Yerevan State University: What is Known

The newspaper "Hraparak" reports that according to our sources, Yerevan State University has closed its budget for the current year with a deficit of about 2 billion drams. This indicates that the main university has spent unaccounted or, figuratively speaking, arbitrary expenses. The missing part has been covered from the savings fund established during the time of former rector, the late Aram Simonyan.

Although this fact poses a serious problem for the upcoming year, it is noteworthy that the board of trustees of YSU approved the rector's submitted report at a recent meeting, considering the activities of the 2021-22 academic year satisfactory.

We requested a comment from the spokesperson of YSU regarding this information. Initially, he asked for a written inquiry, stating that it is a lengthy process. However, a few minutes later, without waiting for the request, he contacted us, saying that they closed it with a surplus of 600 million drams, and that the report will be presented in April. Meanwhile, on December 20 at the YSU academic council meeting, Tigran Galstyan, head of the financial analysis department of YSU, candidly admitted the existence of the deficit, which was noted in the official announcement.

"The consolidated income and expenditure forecast of the 'Yerevan State University' foundation for the year 2023 confirms that the income and expenditure forecast of YSU for 2023 is deficit and the source for covering the deficit is the remaining cash resources accumulated from previous years as of January 1, 2023," Galstyan stated.

For more details, refer to today's issue of the newspaper.