House subcommittee votes to shut down SC State for one year


JAG89 said:
You do realize, per the USAToday Finance Report, SCState athletic program had accumulated a debt of ($39,118,248) for nine years (2005-2013) . That's just over a $4 million dollars per year deficit. My question is, how much could they have saved in those 9 years if their athletic program took an alternative route? If they currently owe $17.1 million, $39 million would have easily put them in the black.
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They aren't in a $40M hole due to athletics. They spent that much in money taken in from the general dollars but much of that is in student fees. Student fees aren't debt.
 
jag4life said:
They aren't in a $40M hole due to athletics. They spent that much in money taken in from the general dollars but much of that is in student fees. Student fees aren't debt.
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If you see how I derived that $39 million, Student Fees was not included as part of their athletic debt, but I did include the monies shown as School Funds in their athletic budget as part of their debt. IMO, School Funds are monies that could have been spent in other areas.

SC State University Athletic Finance
Accumulative Revenues minus Accumulative Expenses minus Accumulative School Funds From 2005 to 2013 - ($39,118,248)

Source: http://www.usatoday.com/sports/college/schools/finances/

Although both are considered subsidies, I deducted School Funds so it wouldn't be a part of their revenue stream and left Student Fees as part of their revenue stream.
 
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JAG89 said:
Exactly.....Southern does not have $17 million to $40 million in debt. And since the cuts will not only effect Southern and Grambling, I get the strange feeling that State legislators will find a way to allow State schools to write IOU's until Jindal's term is over with, which ends this year. I'm sure the next Governor will campaign on re-writing the State constitution to protect funding for state college & universities and health programs. Jindal completely destroyed the State health programs without having much to replace them and he did nothing to protect the budget for State colleges and universities when the State had a decline in revenue.
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Yea I figured since it was effecting LSU as well that something would be done. It's like if a cut is proposed in Mississippi that would have a negative impact on Mississippi state and ole miss, trust me something will be done.
 
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JAG89 said:
If you see how I derived that $39 million, Student Fees was not included as part of their athletic debt, but I did include the monies shown as School Funds in their athletic budget as part of their debt. IMO, School Funds are monies that could have been spent in other areas.

SC State University Athletic Finance
Accumulative Revenues minus Accumulative Expenses minus Accumulative School Funds From 2005 to 2013 - ($39,118,248)

Source: http://www.usatoday.com/sports/college/schools/finances/

Although both are considered subsidies, I deducted School Funds so it wouldn't be a part of their revenue stream and left Student Fees as part of their revenue stream.
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Well Damn that's a lot of school funds. :eek:
 
jag4life said:
They aren't in a $40M hole due to athletics. They spent that much in money taken in from the general dollars but much of that is in student fees. Student fees aren't debt.
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My only concern is the amount of interest the State would have to pay if they allowed IOU's. If Jindal was smart enough to allow the cuts to be distributed across the board, then there might not be a need for IOU's or deep cuts into education and health. Right now, Jindal is allowing an outdated constitution dictate to which State programs will be cut the most.

http://bobbyjindal.com/index.php?op...pread-out-budget-cuts&catid=45:news&Itemid=65
 
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I honestly hope this does not happen to any school, but Bama State may be facing a similar situation. The state is draining them dry from an forensic audit that has been going on 3 years. They have attorney bills that is hitting the roof because of litigation and their athletic salaries and expenses are killing the school. Their accredidation is also on warning status and financial standing has dropped. The President has told the AD that the New Stadium has to make money now, because it is not paying for itself. Coach Jenkins is their final hope. The State of Alabama will be glad to take over their nice facilities. The State already blocked their proposed bowl game at the stadium and The City owned stadium, Cramton Bowl got it.
 
The decision made today hurts my heart. Hbcu's might be enemies on the feild and in the stands but in the words of Frankie Beverly; We are one. Sorry to hear this news. Whom ever played a major role in this, I believe if there role was a negative impact purposely I assure you there heart and soul will not rest. I will be praying for the rebound to this institution. I know if JSU was in a similar situation how I would feel. This only promotes us as black HBCU alumni to start holding our institutions accountable. We play a more prominent role than most schools administrations make us aware of. Alumni chapters need to be up and on these presidents about certain issues and policies they are implementing even if its justified, we just want to have intelligence of how and why the decision was justified . Ex. Houston JSU alumni chapter will discuss why the renaming of the Walter Peyton complex. They will communicate with the school to have a full understanding of the decision And also the dismissal of the baby Tigers . It may be a good reason and it may not be. But my point is, we as alumni really are the future investment of our school. State budgets help stabilize the school but they are cutting budgets everyday. This is not to down our black alums but suggest we work together and harder to ensure the rich success of our institutions.
 
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dieharddawg said:
I honestly hope this does not happen to any school, but Bama State may be facing a similar situation. The state is draining them dry from an forensic audit that has been going on 3 years. They have attorney bills that is hitting the roof because of litigation and their athletic salaries and expenses are killing the school. Their accredidation is also on warning status and financial standing has dropped. The President has told the AD that the New Stadium has to make money now, because it is not paying for itself. Coach Jenkins is their final hope. The State of Alabama will be glad to take over their nice facilities. The State already blocked their proposed bowl game at the stadium and The City owned stadium, Cramton Bowl got it.
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Man all this is sad. I was wondering how and why would a school that is experiencing accreditation issues, and financial problems would take so much pride in saying we might possibly consider another conference in football and is partially marketing there athletic program as A sure future soon to be FBS Program to a certain extent. I'm not hating to no extent, I Was actually supportive But while reading on these issues about possibly becoming FBS and knowing in the back of my head the true debt they are in had me scratching my head but I'm a firm believer that some things happen for a reason. Maybe this will help open some eyes to all alumnus that if you want your school to survive the next 25 years, you must be evolved and donate has much as possible to your institutions.
 
dieharddawg said:
I honestly hope this does not happen to any school, but Bama State may be facing a similar situation. The state is draining them dry from an forensic audit that has been going on 3 years. They have attorney bills that is hitting the roof because of litigation and their athletic salaries and expenses are killing the school. Their accredidation is also on warning status and financial standing has dropped. The President has told the AD that the New Stadium has to make money now, because it is not paying for itself. Coach Jenkins is their final hope. The State of Alabama will be glad to take over their nice facilities. The State already blocked their proposed bowl game at the stadium and The City owned stadium, Cramton Bowl got it.
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This is a bit of an overstated oversimplified view of the situation at ASU but we appreciate your support during our tough time.
 
SC State never had a Home Game so they never lost a Dime in the Playoffs, at least that is not the cause for the closing. This is a issue bigger then going to the Playoff. Some us Sound like Crabs in the Barrel, You know damn well that some of these other States are going to Try the Same thing. What is the Average debt of Non SEC schools? We keep comparing ourselves to the Elite Schools Like LSU... But Lets be real, schools like Western Carolina University might be in the same debt but without the Media and not a hidden agenda.

Many People believe that we don't need HBCUs anymore, They don't Believe that a Black Man should be able to take care of his Family with out using his Hands and Feet.. What a Great Idea to start getting rid of HBCUs without the Fight.
 

bamasax4 said:
This is a bit of an overstated oversimplified view of the situation at ASU but we appreciate your support during our tough time.
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Bama State Campus is to Nice and the Future for them looks good... They took a chance by updating, its going to pay off as long as they can keep they Grads of Reality TV
 
Jimmyoliver said:
I pray Grambling and SU aren't next. Bobby Jindal latest budget cut is a killer for HBCU's. 40 to 60 percent cut in each schoolS budget. If LSU is complaining, I know sU and Gsu in prayer.
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Exactly....hell how many faculty members did LSU fire or pushed to retire.
 
Bleedbluefan said:
Well I hope that is just a rumor
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Surprise move to close S.C. State temporarily halted as outcry grows

State lawmakers temporarily halted an attempt Tuesday to shut down the financially troubled South Carolina State University for at least three semesters.

The House Ways and Means Higher Education Subcommittee voted 3-1 Tuesday to suspend operations at the state’s only public historically black college, a move that would mean laying off the school’s employees and transferring academically eligible students. The goal would be to use the savings to repay the school’s mounting debt.

Rep. Gilda Cobb-Hunter, D-Orangeburg, cast the lone vote against the plan. After lawmakers decided to sleep on it before taking further action on S.C. State’s future, school President Thomas Elzey held a news conference at the Orangeburg campus, vowing to keep the school open.

Source: The Post and Courier (con't)
 
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