SC State On Track to Run Out of Money

[Striktly]

ORANGEBURG, S.C. — South Carolina State University is on track to run out of money next month, and school officials said Thursday they hope government leaders will help.

University President Thomas Elzey told trustees the Orangeburg school has $1.5 million on hand. That's less than half of what S.C. State needs to pay its 1,045 employees, utility bills and debt payment next month.

"Our situation is urgent," Elzey said Thursday.

The university has requested a $13.6 million bailout from the state after years of borrowing money to cover deficits caused by declining enrollment and overspending.

Earlier this month, state Inspector General Patrick Maley said S.C. State had diverted $6.5 million meant for agriculture research to cover debts since 2007. Maley said he found no fraud, but rather a pattern of mismanagement that allowed the inappropriate practice to escalate out of control.


Read more here: www.thestate.com/2014/04/25/3408739/sc-state-on-track-to-run-out-of.html#storylink=cpy

[DOOMS]

Dang steat...

[Bigboy]

I hope they get it together. It would be a damn shame for this school to shut down. Is it not (SCSU) the only state supported HBCU in the state of S.C.??

[marchingband1969]

Yes you are correct...SC State is the only state supported HBCU in SC. Just think how much stronger A&T would be if wedidn't have to compete for funding with the other the four other state funded HBCU's in NC. Plus all of the other PWI state supported schools. I think SCStates problem has been god awful leadership. I hope they will survive but it's going to be tough.

[@ProfBellamy]

Apr 28, 2014 11:24:42 GMT -5 marchingband1969 said:

Yes you are correct...SC State is the only state supported HBCU in SC. Just think how much stronger A&T would be if wedidn't have to compete for funding with the other the four other state funded HBCU's in NC. Plus all of the other PWI state supported schools. I think SCStates problem has been god awful leadership. I hope they will survive but it's going to be tough.

State had been screwed all over over the last few years. When Hugine left...and the leadership door kept rotating who would have thought that things would have been stable. Wait.....that's the job of the state to review and audit. Nonetheless, I am more appalled that their alumni aren't up in arms and trying to be on the streets raising money and awareness.

I'd be damned if Chancellor Martin says we have less than a month of cash on hand and our alumni/alumni association isn't working on a strong campaign for funding.

[Aggie One]

They may be too far gone. If Haley decides to bail them out, there will be major and extreme restructuring of SCSU this summer.

[DECKS]

They'll get the bailout but you better beleive there will be strings attached. They will be forced to make much deeper cuts and I wouldn't be surprised if they are forced to move to D-II which would be sensible given their current state of affairs.

[DOOMS]

If they go to d-2, methinks they stand a better chance of winning it all than most every team in that division.

[marchingband1969]

I agree with Doom...SC State at the DII level would be tough but that assumes they will have the funding and coaching staff they have now. If they are having budget problems you can bet their athletic budgets and scholarships will be gutted and so will salaries for coaches. So they will not get the same student athletes they are getting now. But on the other hand, they would be able to admit damn near every athlete in
S C regardless of their grades. They have a winning tradition at SC State so no matter what level they play they will play to win.

But I'd hate to see them take that hit and leave the MEAC but they may be too far gone to save.