Sunday, January 4, 2015

SCSU financial woes become desperate, ex-chair found guilty of corruption tops T&D Region’s stories - LARRY HARDY, Times and Democrat

The past year saw South Carolina State University on the verge of financial disaster, on probation by its accrediting agency and in the news when former Board Chairman Jonathan Pinson was convicted on numerous corruption charges. The revelation that S.C. State’s financial problems are worse than had been previously announced and the university’s efforts to correct them topped The Times and Democrat’s list of the most significant stories of the year. In February, S.C. State President Thomas Elzey reported to the S.C. Budget and Control Board that the institution had a serious cash shortage, was unable to pay vendors and, without help from the state, would have a $4.4 million deficit balloon to more than $13 million by the end of the fiscal year.

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