DAYTON, Ohio ( WDTN ) — The state’s only public HBCU has been placed on fiscal watch.
The Ohio Department of Higher Education’s Chancellor Mike Duffey announced on Friday that Central State University (CSU) has been placed on fiscal watch after CSU leadership made the department aware of the university’s financial challenges.
Duffey says the declaration will allow the university to receive assistance to adapt and position itself as a stronger, more competitive institution.
Several measures will be taken to stabilize and improve the outlook of the university, including increased financial reporting, board of trustee engagement and evaluation by the state’s auditor. The Auditor of State’s Office will provide consulting around the university’s budgeting, financial accounting and reporting procedures.
The goal is for the university to come off fiscal watch within three years.
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