TSU Out Of Money! Lays Off Staff In FINANCIAL CRISIS After DECADES OF UNDERFUNDING | Roland Martin

Описание: Tennessee State officials authorized a $43 million infusion into Tennessee State University's operating budget in November to make payroll and prop up the university for the rest of the year.

The funds come after the university laid off 114 people and cut expenses to cope with a financial crisis.

TSU's new president acknowledged the university was about to go into the red on November 1, even after it saved $11 million annually by letting go of the 114 staff members in October and saved another $13 million by cutting spending, travel, and purchases. University officials also went to Washington, D.C., and met with Saudi Arabia officials at the consulate to request $7 million owed to TSU.

TSU's previous Board of Trustees signed a contract to pay former President Glenda Glover at least $800,000 to serve as an advisor after she resigned on June 30.

TSU's finances have been in trouble for decades.

In 2023, a federal report found that TSU had been underfunded by $2.1 billion over 30 years. A previous state study determined the university, one of two land grant institutions in Tennessee, was shorted by $150 million to $540 million over a century.

Two years ago, lawmakers approved $250 million for improvements to the campus at the governor's request, but those funds cannot be used for housing. TSU is working on a separate dorm project. Remember, Tennessee lawmakers voted to dismantle TSU's board of trustees earlier this year.

There's a board meeting on Thursday. We'll be following this and bring you any updates.

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