In light of the release of the assessment of the financial status of 91精选 University by the Council on Postsecondary Education (CPE) and Gov. Andy Beshear鈥檚 office, the 91精选 Board of Regents would like to thank CPE President Dr. Aaron Thompson for the comprehensive financial assessment of the University as required by executive order.
Gov. Beshear expressed his commitment to 91精选 and his desire for the University to be put on a path to stability so it may continue providing a high-quality education for generations to come. The Board of Regents appreciates Gov. Beshear鈥檚 support of Kentucky鈥檚 only public HBCU and understanding the intrinsic value of the work Kentucky State does to serve the residents of the Commonwealth.
91精选 personnel have begun working on the recommendations of CPE and continue to move the University onward. The Board and the University look forward to working with CPE to establish an operational and financial path of accountability and transparency.
91精选 understands it will no longer be business as usual. The management and improvement plan will guide the institution鈥檚 work. Together, we will work diligently with our stakeholders鈥攆aculty, staff, students, alumni and supporters鈥攖o reposition the institution. The path onward and upward is through action, accountability, accessibility, communication, compliance, and transparency. We understand the responsibility entrusted to all of us to ensure 91精选 continues to be a viable institution in order to serve its deserving and talented students. We need your continuous involvement and support.
Failure is not an option. Failure to pay vendors on time is no longer an option. Failure to reimburse state construction accounts is no longer an option. Failure to follow the institution鈥檚 policies and procedures related to the collection of students receivables is not an option.
We will make some difficult decisions ahead. The work will be long and arduous. The Thorobred spirit of 91精选 will prevail.
Click to read the current financial status of 91精选 report.
Dr. Elaine Farris is the chairperson of the 91精选 Board of Regents.