Magazine article Black Issues in Higher Education

Central State Regains Financial Control

Magazine article Black Issues in Higher Education

Central State Regains Financial Control

Article excerpt

Central State Regains Financial Control

DAYTON, Ohio -- Central State University took another key step in its renewal efforts February 27 when it assumed greater control over its financial affairs.

That Friday was the last day on campus for financial officials from the state of Ohio's Office of Budget and Management (OBM), which had worked with newly hired CSU financial officers to install tighter fiscal controls and accountability at the university. The OBM stepped in nearly a year ago at the request of Ohio's governor and legislators when the university fell into a financial crisis.

For much of 1997, an OBM deputy director served as CSU's chief financial officer. Additionally, from four to seven OBM employees worked on campus nearly every day while CSU searched for, hired, and trained fiscal specialists to replace them.

"This is a significant step forward," CSU President John Garland said. "It shows we are directly on track in the rebuilding of the uiversity and in regaining the complete confidence of the OBM and the governor's office. …

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