Columbia, SC (WLTX) – As South Carolina State University officials continue to meet with a special appointed working group to resolve their financial problems, the university still finds itself under a mountain debt.
News 19 obtained documents showing that they owe money to 334 vendors. For example, Sodexho, the university’s food provider, is owed more than $5 million. UGL Unicco, who maintains the facilitieson campuss, is owed close to $4 million.
The total amount owed to all vendors is $12 million.
Last year, the university was given two loans to help pay off its debt. In April, SCSU was given six million dollars from the Budget and Control Board, and in December, the school received a $12 million loan to be given out over the next 3 years.
The state also created a Blue Ribbon Panel to oversea the funds. So far this year, university officials say they have only received one part of the loan in the amount of $1.5 million.
Acting President Franklin Evans says this year the university has already cut more than $1 million by laying off employees and implemented furlough days. The board of trustees recently adopted a plan that would cut two million from the school’s budget starting July 1st. This is the same plan that now fired President Thomas Elzey presented to the board but was voted down.
Read more here.
