Report shows JSU only has enough cash to operate for a week


One thing we must remember is when it comes to HBCU'S the media makes it look worse than what the problem really is. I seriously doubt the problem is really bad for the university.
U hit the nail on the head and honestly until Myers speak and the audit IS complete it could be that JSU used the money for good will
 
The IHL. It's the entity that's responsible for project approval and auditing, so it seems they dropped the ball somewhere along the way since the last annual audit.
It's almost impossible to lose that much money in one year.

Here is the full statement from JSU:

Jackson State University is aware of financial issues as they currently stand. The university has taken the necessary steps to restore cash reserves. These measures include:

  • Unfilled Education and General-funded positions across the university will remain vacant;
  • Purchasing and travel will be limited to critical and justifiable needs;
  • Any and all excess revenue will be held in reserve; and
  • Facility Management will begin retrofitting the residence halls with energy conservation lighting.
Based on projections from the first quarter, with these measures in place, we will add $10 million in cash reserves by the end of the fiscal year.

It is important to emphasize that the news release from IHL applies to the university’s cash reserves – its savings account. This in no way affects the daily operating budget of the university. At no time, past or present, has the university been under any threat of insolvency. We will continue to meet our obligations including payroll, scholarships and operating expenses.

Our priorities remain taking care of our students, faculty and staff and providing a world-class education expected from a major research institution.

With all that you posted, you are saying it is the responsibility of IHL to monitor a school's cash flow??? Basically, IHL should make sure the school is not excessively spending more than it is making. It's rough when the governing board (IHL) that is responsible for a school's financial health is working hard to destroy the school. This is just as bad as Jindal's cuts to higher education in Louisiana. Thank God Louisiana decided to elect John Bel Edwards as its governor. I hope JSU can find a way to replace the board members on the IHL Board. If IHL keep dropping the ball, we can all stay tune to the next episode of IHL destructive drama.
 
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Sounds like the University has no oversight. A CPA/Internal Auditor should have nipped this in the bud, per say.

No sir, the universities in MS have an Institutions of Higher Learning Board, internal auditors that report directly to the IHL, external auditors that come once yearly....there seems to have been a constant decrease. there were a LOT of balls dropped for them to get to here.
 
Come to find out this more like a discrimination against JSU. Basically the IHL almost had JSU running like a private school making them pay for everything including the redox hall and the old honors dorm THATS not even there anymore. This also included the new student center. At the same time the IHL bought dorms and etc for other institutions without those institutions having to use there own money to make timely payments as did JSU, citing that being where the decrease n reserves went. So basically IHL wouldn't and will not give us buildings but punish us for BUILDING OUR OWN. So in legal term this could result in a discrimination law suit. JSU vs state of ms.
 
Come to find out this more like a discrimination against JSU. Basically the IHL almost had JSU running like a private school making them pay for everything including the redox hall and the old honors dorm THATS not even there anymore. This also included the new student center. At the same time the IHL bought dorms and etc for other institutions without those institutions having to use there own money to make timely payments as did JSU, citing that being where the decrease n reserves went. So basically IHL wouldn't and will not give us buildings but punish us for BUILDING OUR OWN. So in legal term this could result in a discrimination law suit. JSU vs state of ms.
How so? Just recently (last couple of years) I saw where JSU got permission to build those buildings and both sides agreed to the financials.
 
JSU one question....

Whose head is going to role?

somebody has got to be the skapegoat or patsy

Do you really have to ask that question??? The IHL is allowing the drama to play out. They hired a outside accounting firm to tell them what they already know. I'm sure they have a few on the inside giving them details of what happen.
 
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I'm just getting a big bag of this stuff and watch the fireworks.

Eating-Popcorn-Soda.gif
 
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It's a general comment. If someone posts something about an ongoing investigation then the least they could do is show some proof...otherwise just say it's theit oppinion.
 
So why start the projects?
Man if u are a jaguar from su, u know how political this thing can get. For ex, USM enrollment went from 16-17,000 down to 14-15,000 and they were given approval for new dorms and bonds. JSU enrollment went from 8000 to 10,000 and JSU was only given approval. So u can see now how this is all geared toward the typical hbcu discrimination issue.
 
The only thing I liked about Piyush 'Bobby' Jindal, he didn't discriminate. He put the squeeze on every public college and university in Louisiana. It sounds like the IHL Board is only out to get JSU, which is how most conservative White Republicans think. Force poor Black folks to be fiscally responsible while rich White folks do whatever to get richer.
 
The only thing I liked about Piyush 'Bobby' Jindal, he didn't discriminate. He put the squeeze on every public college and university in Louisiana. It sounds like the IHL Board is only out to get JSU, which is how most conservative White Republicans think. Force poor Black folks to be fiscally responsible while rich White folks do whatever to get richer.

You get it.
 
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