BROWNWOOD – February 18, 2025 – For the past five years, Howard Payne University has met or exceeded the financial target goals for the Department of Education, according to the university’s auditing firm CapinCrouse, LLP. In a recent report to the HPU Board of Trustees, CapinCrouse shared audit information from the 2023-2024 academic year. Their report found that HPU is in the top 25 percent for financial health, out of the company’s more than 120 higher education clients that were audited across the country.
“We are thankful for the positive reports from our auditors, which demonstrate the financial health of HPU and provide confidence for our supporters that their investments are in good hands,” said Dr. Cory Hines, university president. “We give praise to the Lord for His hand of provision and look forward to great days ahead for our university.”
Each year, HPU completes a financial statement audit by an independent accounting firm. This financial information is used to calculate key financial metrics as required by the Department of Education (DOE). Key areas include overall financial stability, liquidity, revenue scores, expense management, debt obligations and financial stability. HPU not only met the DOE’s requirements, but exceeded them in many areas.
“HPU’s financial strength results from careful stewardship, generous donors, and a commitment to long-term sustainability,” said Emily Attaway, chief financial officer and vice president for financial affairs. “With a healthy endowment and prudent financial management, we can provide significant scholarship opportunities for students while maintaining a stable financial foundation for the university’s future. We are thankful for the Lord’s blessings on HPU and pray that he continues to provide as we are committed to educating students to grow His Kingdom.”
Supporters who would like to give a gift to HPU can visit www.hputx.edu/give or call 325-649-8048.
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Cutline: Recent audit affirms strong financial health at HPU