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JSU Alum

Jackson State to Cut Budget and Borrow Money to Aid Finances

Jackson State University will cut its next budget by nearly 8 percent and borrow $6 million as it continues to work through a financial crisis.

June 15, 2017, at 5:35 p.m.

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By JEFF AMY, Associated Press

JACKSON, Miss. (AP) — Jackson State University will cut its next budget by nearly 8 percent and borrow $6 million as it tries to cut expenses and rebuild financial reserves.

The moves at Mississippi's largest historically black university went forward Thursday as College Board trustees approved budgets for all eight public universities for the upcoming year. The system's overall budget will fall by $30 million, or less than 1 percent, to $4.5 billion, largely because state appropriations have fallen. Universities started the current budget with $773 million in state aid, but after multiple cuts will start the 2018 budget on July 1 with $667 million.

The board also eliminated nine Jackson State academic departments through mergers and downgraded the School of Journalism and Media Studies to a department. Supporters of some units, including the Department of Speech Communications, had questioned the plan. That department will be merged with the Department of English and Foreign Languages.

The university is also laying off 42 non-faculty employees, suspending men's and women's golf teams for two years, and moving to close a branch campus in Madison. The cuts are supposed to save $2 million , after interim President Rod Paige earlier cut more than $4 million by eliminating vacant positions and curtailing travel spending.

"We've gotten a little bit off base in our eagerness to serve students, spending a little bit more than we should," Paige said of the departmental mergers.

The borrowing will repay Jackson State for money it spent on construction, equipment and software in recent years. A bank will loan the money to Jackson State for 10 years, charging 3.1 percent interest. Enhancing the school's financial breathing room, Jackson State will only pay interest for the first four years. Paige and interim Chief Financial Officer Marvel Turner said the $6 million will bolster reserves heading into next year, but said some money could pay bills at the end of the current budget.

 Spending in Jackson State's main budgets will fall by $12 million to $143 million next year. That's supposed to produce a surplus adding $3 million to reserves.

"We've stopped the bleeding," Turner said.

College Board officials said there could be more budget changes in August after an accounting firm ensures revenue and spending projections are accurate.

Former president Carolyn Meyers resigned last year, days after trustees intervened in Jackson State finances, citing dwindling cash reserves. Current Mississippi Valley State University President William Bynum was chosen by trustees last month as the new president over the objections of some faculty, students and alumni. He takes over from Paige on July 1. Minutes show trustees have agreed to boost Bynum's salary to $375,000 a year. Bynum now makes $225,000 at Valley, while Meyers was making $270,500 at Jackson State.

https://www.usnews.com/news/best-states/mississippi/articles/2017-06-15/jackson-state-to-cut-budget-and-borrow-money-to-aid-finances

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BluTiger!
It's Still not to late to participate in JSU Day of Giving! #Give2JSU!

https://app.mobilecause.com/vf/JSU?utm_source=twitter&utm_content=give2jsu&utm_campaign=Falcon&utm_medium=Jackson+State+U.








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JSU_HCA
Ok stop tthe D@M PRESS. Does no one see a problem here. OK JSU has $$issues, but you give the new guy a a $104K raise abovr the previous President who you claimed had steller record. This same increase is $150k more thanhe was makimg before. WHERE IS OUR ALUMNI LEADERS?? There is no way in hell it should have been thst big of a increase for this candidate. CLEAELY THE COLLEGE BOARD IS FULL OF IT AND DOING A NUMBER. This guy should have only gotten a $20K raise off the previous President salary whixh wpuld have put it his salary at $290,500.This a big boost of $65,500 from his salary at Valley. His contract shoild have been performace base to get him to $320k at least. So we need $ and that extra $84500 could have been in a special acccount for year or two to make $. JUST SAD
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JSU Alum
JSU_HCA wrote: Ok stop tthe D@M PRESS. Does no one see a problem here. OK JSU has $$issues, but you give the new guy a a $104K raise abovr the previous President who you claimed had steller record. This same increase is $150k more thanhe was makimg before. WHERE IS OUR ALUMNI LEADERS?? There is no way in hell it should have been thst big of a increase for this candidate. CLEAELY THE COLLEGE BOARD IS FULL OF IT AND DOING A NUMBER. This guy should have only gotten a $20K raise off the previous President salary whixh wpuld have put it his salary at $290,500.This a big boost of $65,500 from his salary at Valley. His contract shoild have been performace base to get him to $320k at least. So we need $ and that extra $84500 could have been in a special acccount for year or two to make $. JUST SAD


They cut men and women's golf to give Bynum a raise. I see it.
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YEQue
The alumni assoc has to re-group and plan a new strategy.
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BluTiger!
JSU_HCA wrote: Ok stop tthe D@M PRESS. Does no one see a problem here. OK JSU has $$issues, but you give the new guy a a $104K raise abovr the previous President who you claimed had steller record. This same increase is $150k more thanhe was makimg before. WHERE IS OUR ALUMNI LEADERS?? There is no way in hell it should have been thst big of a increase for this candidate. CLEAELY THE COLLEGE BOARD IS FULL OF IT AND DOING A NUMBER. This guy should have only gotten a $20K raise off the previous President salary whixh wpuld have put it his salary at $290,500.This a big boost of $65,500 from his salary at Valley. His contract shoild have been performace base to get him to $320k at least. So we need $ and that extra $84500 could have been in a special acccount for year or two to make $. JUST SAD

And these are among the reasons the lawsuit was filed!  We have no voice at the table in the decision making process.  The IHL as it presently exists is an unjust body that ignores our concerns and cannot be counted on to always act in our best interest.
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YEQue
This is what I will be recommending to Yolanda Owens when I get with her:

I considered the tact of withholding contributions the Univ and have been torn over how best to proceed. 'Torn' because I don't want to do anything directly or indirectly that negatively impacts the students, yet I want to send a message to the IHL that would be effective.

Haven't figured out what to do except renew my alumni dues, which I did, and to work through the JSUNAA. The natl president, Yolanda Owens, lives here, and I know she is very unhappy with the IHL. She told Bynum publicly that she is watching him.
I'm thinking the alumni assoc is developing a leverage angle for going forward.

I want to see what that plan is. One idea Some of us came up with is to advocate for restricting all alumni association giving to use on certain high priority purposes and with strings attached. Those purposes need to be of a critical nature and the strings would be related to the Univ President and how we want him to deal with the IHL.

We would need to understand what the law requires of him in working with the IHL so that we can fashion some smart, verifiable rules of engagement with him that will ensure his fidelity to Thee while keeping him within his legal bounds. We don't need to just trust him. We need to find ways to be able to verify that his administration of the Univ is in our interest.

Would be best if we used our unhappiness as fuel to raise serious money for Thee I Love. Then leverage it in negotiations with him to keep him and all future presidents in line.
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JSU_HCA
True. Bascialy moneyntalks. We hwve bedome a force to IHL like olemmiss n msu r usm. Until we giv and become aforce we will always get what we get
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YEQue
Yes, whenever we give as an alum group, it should be a big number, and it shouldn't just be a presentation on the field at halftime. That should come only after the signing of a formal agreement that states how the funds are to be used and when the expenditure report is due back to the alum assoc.
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BluTiger!
I would like to see us have an obsession with the idea of paying this loan off in less than 10 years because a cloud will remain over us until it's paid off!  We could have a Give2JSU every few months in addition to other fund raising efforts to make payments on the principle as well as to give back to the University.
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dcjsufan
Let me add, in addition to giving, this is a big one, folks in the state of MS need to organize and get out and vote for governor. As it currently stands, the governor appoints members to IHL!!! There should be a sense of urgency to ensure a viable candidate is chosen that will challenge Tate Reeves next year that will have the support of JSU. I digress for now.   
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YEQue
dcjsufan wrote: Let me add, in addition to giving, this is a big one, folks in the state of MS need to organize and get out and vote for governor. As it currently stands, the governor appoints members to IHL!!! There should be a sense of urgency to ensure a viable candidate is chosen that will challenge Tate Reeves next year that will have the support of JSU. I digress for now.   

THIS!
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Dr_JStocks
dcjsufan wrote: Let me add, in addition to giving, this is a big one, folks in the state of MS need to organize and get out and vote for governor. As it currently stands, the governor appoints members to IHL!!! There should be a sense of urgency to ensure a viable candidate is chosen that will challenge Tate Reeves next year that will have the support of JSU. I digress for now.   

Never thought about this viewpoint but that makes sense. Only problem is getting someone up there that would help us.
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JSU_HCA
Well let say a true deomcrat. Not one that is only on paper.thunk about it most were really republicans under cover. The shift happen after regan was in office. We do need to get out and vote. Sad the numbers thst dp. We couldnt even get a black guy in office- the form mayor of Hattisburg. We will never measure up. The Madison campus was gold. We didmt need the one down town. To close to campus.
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BluTiger!
JSU_HCA wrote: Well let say a true deomcrat. Not one that is only on paper.thunk about it most were really republicans under cover. The shift happen after regan was in office. We do need to get out and vote. Sad the numbers thst dp. We couldnt even get a black guy in office- the form mayor of Hattisburg. We will never measure up. The Madison campus was gold. We didmt need the one down town. To close to campus.

Well unfortunately too late for the Madison Branch.  The University of Belhaven has already swooped in on those students!
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