Financed by Privatuni Witten worse than announced.

The oldest private university in Germany is in great money - a confidential report shows the devastating magnitude. Even if the University of Witten / Herdecke their entire property would sell, they could hardly cover the debt write auditors in a report.
  Apparently, the financial position of the University of Witten / Herdecke more dramatic than previously known. In a confidential report commissioned by the University of experts recommend the firm of Ernst & Young, "immediately" the residual value of Germany's oldest private university to be determined.

The examiners will "tend to assume" that the sale value of all property of the university would not be sufficient, "a shortfall in overindebtedness perspective" to prevent states that in the paper that during a crisis meeting on 5 January in Dusseldorf science ministry was presented.
The country had just before Christmas, donations amounting to 4.5 million euros for 2009 and also stopped three million euros for 2007 reclaimed. If the country does not continue its financial support to pay, according to the report would also "planning (?) With the maturity of the February salaries" a "liquidity shortfall occur."
The spokesman of the private university, Ralf Hermersdorfer, wanted to "confidential advice not comment." Meanwhile, the Association of Community Hospital Herdecke 15 percent of shareholders bought shares of Privatuni what the ailing institution, but only a cash injection of 1.9 million euros brings.
Million holes in the coming years
With a night crisis meeting two days before Christmas Eve had the immediate threat of bankruptcy just yet be averted. From the group of three potential strategic partners' ability to pay was initially saved. Since then negotiates the embattled university with the health and education SRH Group Holding. Darmstädter Software AG Foundation and the non-profit association for the development of community hospitals Herdecke.
For 22 January, a further meeting in the Ministry of Science Düsseldorfer scheduled. What is the enormous financial cost private university has 29 pages showing the strong opinions clearly. In the business planning for the next few years reveals there are millions of holes: 2,938,000 euros in 2009, 5,491,000 in 2010 and even 8,140,000 for 2011.
Already this year will greatly reduce the staff and the contributions of students rise. The business plan goes to 2011 by a doubling of tuition fees compared to fiscal year 2007/08 from. All this is sufficient, however, according to the auditor not to the "liquidity shortfall" to eliminate them.