bernard
THEE Realist
State officials on Thursday warned Tennessee State University is "out of money" even as it continues to pay out a $800,000 contract to former President Glenda Glover, an arrangment House Speaker Cameron Sexton sharply criticized following a scathing financial audit showing management failures during Glover's tenure.
"Why would you continue to pay her a lot of money to advise on a situation that we're dealing with because of her leadership when she was at the helm of the university?" Sexton, R-Crossville, said.
University officials said Glover signed a contract with the university for at least $800,000, though Sexton said he'd been informed the total is even higher. Interim leaders struggled to answer questions about the contract, which they said was organized under the previous TSU board.
The Thursday meeting revealed TSU remains in critical financial condition.
Tennessee floated TSU over $30 million in cash in recent months to keep the institution financially viable, state officials said on Thursday at a meeting of the State Building Commission. TSU was nearly unable to make payroll this fall, and it was forced to lay off more than 100 employees in October.
"The point is, the university is out of money. That's very apparent," State Treasurer David Lillard said.
Tennessee Comptroller Jason Mumpower said more layoffs are needed to stabilize Tennessee State University and suggested the school considering selling off its downtown Nashville campus to stanch critical financial issues. Mumpower did not mince words about the state of TSU's finances and the path ahead for the university.
"Why would you continue to pay her a lot of money to advise on a situation that we're dealing with because of her leadership when she was at the helm of the university?" Sexton, R-Crossville, said.
University officials said Glover signed a contract with the university for at least $800,000, though Sexton said he'd been informed the total is even higher. Interim leaders struggled to answer questions about the contract, which they said was organized under the previous TSU board.
The Thursday meeting revealed TSU remains in critical financial condition.
Tennessee floated TSU over $30 million in cash in recent months to keep the institution financially viable, state officials said on Thursday at a meeting of the State Building Commission. TSU was nearly unable to make payroll this fall, and it was forced to lay off more than 100 employees in October.
"The point is, the university is out of money. That's very apparent," State Treasurer David Lillard said.
Tennessee Comptroller Jason Mumpower said more layoffs are needed to stabilize Tennessee State University and suggested the school considering selling off its downtown Nashville campus to stanch critical financial issues. Mumpower did not mince words about the state of TSU's finances and the path ahead for the university.
TSU struggles to make payroll as former President Glenda Glover draws on $800K contract
State officials revealed Tennessee floated Tennessee State University some $30 million this fall to help the university that is "out of money."
www.tennessean.com
