Central State University is on fiscal watch.
The Ohio Department of Higher Education placed the school under this designation after Central State leadership told the agency of current financial challenges.
The university will adopt a financial recovery plan to help the school stabilize.
“Post-pandemic, institutions of higher education nationally are facing constrained finances," Ohio Department of Higher Education Chancellor Mike Duffey said. "With today’s fiscal watch declaration, Central State University will receive assistance in adapting and positioning itself to become an even stronger and more competitive institution.”
Each quarter, Central State must give full reports to its board of trustees and to the chancellor. Also, during this process, Central State is required to consult with the state auditor’s office for advanced accounting support and recommendations.
“We value the support we’re receiving from Governor DeWine, Chancellor Duffey, and the Department of Higher Education,” Central State President Morakinyo A.O. Kuti said in a statement. “We are continuing to take action to ensure we manage our way through this fiscal watch period and address what’s necessary to ensure a bright future for our students, faculty, and staff.”
Central State may be on fiscal watch for as many as three years.
