Jimmyoliver
Well-Known Member
This is where JSU money went.
http://www.clarionledger.com/story/...reserves-went-expansions-facilities/92529796/
http://www.clarionledger.com/story/...reserves-went-expansions-facilities/92529796/
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Percent change in enrollment and total fall enrollment by university
• University of Mississippi: 1.7%, 24,250 students
• Mississippi State University: 3.6%, 21,622 students
• University of Southern Mississippi: 0.0%, 14,554 students
• Jackson State University: 0.1%, 9,811 students
• Alcorn State University: 6%, 3,730 students
• Delta State University: 3.7%, 3,587 students
• Mississippi University for Women: 10.7%, 2,960 students
• Mississippi Valley State University: 8.4%, 2,502 students
System-wide: 2.5%, 83,016 students
I agreeYeah, IHL might face a lawsuit over this if other schools were fronted money and JSU wasn't. AAMU & ASU sued the State of Alabama in the 80s and got a large payout settlement.
Go get that check!
I agree! all alumni's need to step up to the plate and write a check to bridge the gap and start other fundraisers to recoup some of the funds for the reserve.STEP UP Alumni, STAND UP! Fight for what is right and show you CAN bridge the gap. Less finger pointing and more check writing.
Its been over a week and JSU is still operating lol
It's about time you change subject because you sound stupid and uniformed as hell.Not to burst your bubble young brother, but do you know what this means???
For every $1 that the school brings in, it owes another $8.74 in debt due to bonds. Ever since fiscal-year 2012, the school has continued to dip into its reserves, rather than operating revenue, to square up its annual debts.
http://www.jacksonfreepress.com/news/2016/nov/01/turmoil-jsu-state-applies-heavy-hand/
It means for every $1 the school generates, it owes $8.74, which means the school is spending its whole paycheck on bills without saving any of it. And don't let an $8 million emergency occur, which is quite common at universities the size of JSU. That would completely wipe out any savings/reserve funds. The school has means to pay all of its bills as of now with that $1 revenue, but how long will it take to pay down that $8.74 debt since the interest keeps growing on that money??? Either something wouldn't be happening soon or a few programs will get scaled back or cut. IMO, it would be a combination of all three. I'm sure SodexoMagic can kiss their food service contract bye. Once Dr. Meyers step on a few toes to get a contract with the company her daughter and son-in-law worked for, I knew then it was just a matter of time before they had something on her. I'm sure JSU would be just find, but them other folks have ways of getting back at someone.
Say what you want, but this does places a burden on operating expense. Also, it seems like Dr. Meyers knew this for over a year, which is when she should have came up with cost cutting measures. Even though the article states that the IHL Board took no action then. The only action they could have taken was take over the university, which they just did by forcing Meyers out.
"Escalated" might be too gentle a word. Over the last four years, JSU has continued to pull from its cash-on-hand funds to cover operational expenses, and each year spent whatever cushion it had until its reserves were only enough to cover a little over a week in expenses. Combine that with an increased debt burden due to expansion and renovation, and the school had slowly started to sink below a water line it could not expect to meet without increasing revenue. The IHL met with JSU last year to discuss poor financial reports but took no action then.
http://www.jacksonfreepress.com/news/2016/nov/01/turmoil-jsu-state-applies-heavy-hand/
Dr. Meyers knew she had mess up, because in her letter the only thing she could demand from them (IHL Board) is that they could not make her instantly homeless within 30-days, which is the law in most states. Now she's no longer JSU's president, I'm sure she has a story to tell, which we have yet to hear. Maybe she will eventually come out and tell her side of the story or they somehow made sure she remained silent on that by having her sign some non-disclosure agreement.
It's about time you change subject because you sound stupid and uniformed as hell.
Not to burst your bubble young brother, but do you know what this means???
For every $1 that the school brings in, it owes another $8.74 in debt due to bonds. Ever since fiscal-year 2012, the school has continued to dip into its reserves, rather than operating revenue, to square up its annual debts.
http://www.jacksonfreepress.com/news/2016/nov/01/turmoil-jsu-state-applies-heavy-hand/
It means for every $1 the school generates, it owes $8.74, which means the school is spending its whole paycheck on bills without saving any of it. And don't let an $8 million emergency occur, which is quite common at universities the size of JSU. That would completely wipe out any savings/reserve funds. The school has means to pay all of its bills as of now with that $1 revenue, but how long will it take to pay down that $8.74 debt since the interest keeps growing on that money??? Either something wouldn't be happening soon or a few programs will get scaled back or cut. IMO, it would be a combination of all three. I'm sure SodexoMagic can kiss their food service contract bye. Once Dr. Meyers step on a few toes to get a contract with the company her daughter and son-in-law worked for, I knew then it was just a matter of time before they had something on her. I'm sure JSU would be just find, but them other folks have ways of getting back at someone.
Say what you want, but this does places a burden on operating expense. Also, it seems like Dr. Meyers knew this for over a year, which is when she should have came up with cost cutting measures. Even though the article states that the IHL Board took no action then. The only action they could have taken was take over the university, which they just did by forcing Meyers out.
"Escalated" might be too gentle a word. Over the last four years, JSU has continued to pull from its cash-on-hand funds to cover operational expenses, and each year spent whatever cushion it had until its reserves were only enough to cover a little over a week in expenses. Combine that with an increased debt burden due to expansion and renovation, and the school had slowly started to sink below a water line it could not expect to meet without increasing revenue. The IHL met with JSU last year to discuss poor financial reports but took no action then.
http://www.jacksonfreepress.com/news/2016/nov/01/turmoil-jsu-state-applies-heavy-hand/
Dr. Meyers knew she had mess up, because in her letter the only thing she could demand from them (IHL Board) is that they could not make her instantly homeless within 30-days, which is the law in most states. Now she's no longer JSU's president, I'm sure she has a story to tell, which we have yet to hear. Maybe she will eventually come out and tell her side of the story or they somehow made sure she remained silent on that by having her sign some non-disclosure agreement.
Didn't read anything you just posted lol. The article says JSU only has enough cash to operate for one week. It's been over a week now and JSU is still operating. Worry about that teacher at SU offering sex for a passing grade #OOPS
Correct me if I'm wrong, but I believe that savings isn't there to be used for day to day operations. Day to day operations are covered by their operating budget. That "operate for a week" phrase refers to if some emergency happened that is over and above their daily operating budget. Then they'd have to dip into that $7M thay have left in reserve. So, as of now, no such emergency has happened.
JSU is still operating
JSU is still operating