Though they are on track this year for a balanced budget, they are still on accreditation probation.
In order to meet the remaining five fiscal requirements for accreditation, they asked the General Assembly to forgive them of $12 million in loans to the state.
That’s money from the blue ribbon panel that was given to them in two $6 million installments, which they used to pay off vendor debt and other expenses.
Their budget also included $14 million in one time money for deferred maintenance projects.
At the end of the meeting, Rep. Gilda Cobb-Hunter told the Board of Trustees that they also need to begin their search for a permanent president, and address that cost in their budget.
“I just want somebody permanent, because with permanency comes a different level of decision making,” Cobb-Hunter said.
Vice-Chair James Clark said the Board’s focus has been on getting the University’s finances in order, but that the search for President is on their priority list.
There is no certainty that the current Interim President, Dr. Franklin Evans, will be selected for that spot.
