Norfolk State University is getting its act together, but the next six months are “critical to our survival and success,” said Eddie Moore Jr., NSU’s interim president.
Major progress has been made on the backlog of unfinished financial reports that landed NSU in hot water with its regional accrediting agency last year, but multiple problems persist and money is tight.
Moore gave that update during his state of the university speech, delivered Monday on the Norfolk campus. Applause erupted when he announced that NSU will submit the required financial reports by mid-October – the deadline set by the Southern Association of Colleges and Schools.
SACS placed the university on “warning” status because of a checklist of shortcomings, including two years worth of incomplete financial reports.
Moore, hired in September after NSU’s most recent president was fired, said he “longs for the day” when properly executed financial statements aren’t news or cause for applause.
“After all,” he told his audience, “it’s the minimum expected from a university of this caliber.”
Moore said a switch in financial management systems caused the foul-up. The transition was so rocky, he said, administrators lost track of how much money they had available to spend. Last year, they even instituted an across-the-board hiring freeze, unaware the coffers held $2 million more than the new system showed. Read Full
