South Carolina State University News June 8, 2016 Positive Budget Projections Could Lead to Favorable Outcome Projections for SC State University's budget for fiscal year 2017 will position the university for a promising future, university officials stated while presenting the budget during a called Board of Trustees meeting Tuesday. For its second consecutive year, the board unanimously passed a balanced budget. South Carolina State anticipates by next fiscal year, its budget will result in a positive indicator by which the university's accrediting agency measures financial stability, both long and short term. If the university meets its expectation, it will be an achievement the institution has not realized in recent years. Officials hope the accomplishment could lead to a favorable outcome with the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC). "If the train does not run off the track," said Board Chairman Charles S. Way Sr., "SC State is poised to be in the best financial health it has seen in years." In June 2014, the association placed SC State University on probation, citing the university for non-compliance to five standards, all of which centered on the university's finances. The university, however, maintains its SACSCOC accreditation. Key university administrators, along with select members of the SC State University Board of Trustees, will appear before the SACSCOC board to present a report that will show SC State meets the agency's standards. "We cannot, of course, determine the SACSCOC board's ruling as it pertains to our membership with the accrediting agency. We are certainly confident that SC State University has a compelling story, in which we will try and demonstrate that SC State complies with SACSCOC requirements," said Interim President Dr. W. Franklin Evans. Among its assessment of SC State's report, SACSCOC will review the university's progress to produce a net positive change of its UNAEP, which stands for unrestricted net assets exclusive of plant and plant-related debt. This indicator determines a university's financial stability by the level of assets available to meet day-to-day obligations. At the end of FY15, SC State's UNAEP concluded with a negative $25.1 million. The university's Office of Finance, projects the UNAEP for FY16 will end with in a negative $18.2 million balance, a $6.9 million reduction in one year. With its balanced budget and several revenue enhancements, totaling $19.2 million, the university anticipates a positive $1 million in UNAEP by June 2017. "We anticipate SC State University will have positive unrestricted net assets when it closes its year-end books for FY17," said Vice President for Finance Ed Patrick. "While much more remains to progress the university financially, it certainly is an impressive swift, positive turn-around for the university. We are indeed headed in the right direction," Patrick continued. The joint resolution passed by the South Carolina Senate and House and the bill signed by Gov. Nikki Haley, which forgives a $12 million loan, an appropriation of $4.6 million, along with other revenue enhancements including contributions from the SC State University Foundation and the STATE Club, will make it possible for the university to reach a positive UNAEP. The SACSCOC hearing will take place on June 15 in Memphis, Tennessee during the association's annual meeting. SANDRA M. PHOENIX Executive Director HBCU Library Alliance sphoenix@hbculibraries.org<mailto:sphoenix@hbculibraries.org> www.hbculibraries.org<http://www.hbculibraries.org/> 800-999-8558, ext. 4820 404-592-4820 Skype: sandra.phoenix1 Follow us on Facebook at https://www.facebook.com/hbculibraryalliance1/ Check out "PULSE!" The HBCU Library Alliance's News Source! - https://hbculibraryalliance.wordpress.com/ Register here http://hbculibraries.org/html/2016meeting-form.html for the October 10,11 Membership Meeting in Atlanta. [Sized Coming Soon]NEW DIGS!!!! The HBCU Library Alliance is relocating to the Atlanta University Center Woodruff Library. July 1st is target date for transition. Stay tuned!!! LYRASIS, Inc. 1438 West Peachtree NW Suite 150 Atlanta,GA 30309 Toll Free: 1.800.999.8558 (LYRASIS) Fax: 404.892.7879 www.lyrasis.org<http://www.lyrasis.org/> Honor the ancestors, honor the children.