bluedog
"Leader of Kings"
JACKSON, MS (Mississippi News Now) - According to a report revealed by the IHL, Jackson State University has only enough cash on hand to operate for a week.
JSU's cash reserves have been reduced by 89% over the past 5 years, dwindling from $37 million in 2012 to $4.2 million in 2016.
The Board of Trustees of State Institutions of Higher Learning hired a CPA firm, Matthews, Cutrer and Lindsay, P.A. who determined that JSU owes $8.74 in debt for every $1 held in their unrestricted fund balance, after adjusting for net pension liability.
The system average is $1.32 in debt for every $1 held.
According to the report, JSU has enough money to stay in operation for 7.77 days.
http://m.msnewsnow.com/msnewsnow/db_330626/contentdetail.htm?contentguid=jJPGF1qg
JSU's cash reserves have been reduced by 89% over the past 5 years, dwindling from $37 million in 2012 to $4.2 million in 2016.
The Board of Trustees of State Institutions of Higher Learning hired a CPA firm, Matthews, Cutrer and Lindsay, P.A. who determined that JSU owes $8.74 in debt for every $1 held in their unrestricted fund balance, after adjusting for net pension liability.
The system average is $1.32 in debt for every $1 held.
According to the report, JSU has enough money to stay in operation for 7.77 days.
http://m.msnewsnow.com/msnewsnow/db_330626/contentdetail.htm?contentguid=jJPGF1qg