No 'financial crisis' at SU; deep cuts now on the way
BATON ROUGE-- Southern University's Board of Supervisors were split down the middle: six in favor of a financial crisis, and six against it. Four didn't vote, which meant the majority needed to declare a financial crisis failed.
Southern University will not face financial exigency. Instead, deep cuts will spread across the campus.
Chancellor James Llorens said he will factor in the money the university gained from the 160 tenured faculty members into the new budget. They voluntarily gave up ten percent of their salaries in furloughs.
The Board of Supervisors was hoping for $1.5 million from faculty furloughs, but they did not get that. Ninety percent of faculty did not volunteer for a furlough, the amount needed for the board to decide to furlough all faculty. Since the Board didn't declare financial exigency, they also cannot force furloughs.
Llorens did not know how much money will come from other places in the university's budget, but did say it will be sliced from everywhere and everyone except tenured faculty who did not sign a furlough agreement. Even Llorens will take a ten percent furlough.
The new budget was due to the state by the end of Tuesday's business day, but Southern University has not yet made their new budget public.
Nearly everyone is on the chopping block, from folks who sweep floors and cut grass to those who work in the financial aid office, Llorens said.
Some will lose their jobs, but Llorens wasn't sure at news time who that will be. Llorens did say he will give those who are cut 30 days' notice.
In the meantime, Llorens will focus on recruiting new students. The university's goal of 7,000 was missed by 800 students. Board members noted for every 100 students not at the university, it loses $500,000. If SU doesn't recruit 800 students in the next week, they'll have to find $4 million they planned on somewhere else.