Kentucky State U. Regents Concerned With School Finances
FRANKFORT, Ky. (AP) – The Kentucky State University board has called a special meeting to address financial issues as the historically black college prepares for a $ 50 million campus project.
The regents called a special meeting for Tuesday to hire an external auditor to “review the current financial position of Kentucky State University,” according to the council’s agenda.
Some regents have contacted Gov. Andy Beshear’s administration about the concerns, The Herald-Leader reported.
Administration officials have been in contact with the regents and the Kentucky Council on Post-Secondary Education to gather more information on the issues they have raised, ”Beshear’s office said in a statement.
The university is poised to move forward with a 400-bed dormitory and dining hall funded by debt and approved by the Kentucky legislature.
University President Christopher Brown recently asked the Board of Trustees to approve a new line of credit authorization. KSU’s annual standing line of credit last year was increased to $ 5 million as a “precaution,” according to school finance officials.
The university has also conducted a half-dozen lawsuits this year, alleging various acts of misconduct by its leaders, including Brown.