Legislation proposed to right the financial standing of Kentucky State University is on its way to the House floor. The measure got the backing of the House budget committee Tuesday. Among other things, it calls for appropriating a $23 million loan to KSU. Council on Postsecondary Education President Aaron Thompson called the bill a “lifeline.”
“And it gives us a way as I think about it to move forward in doing the things we need to do to ensure a stabilization for next year as well as putting some things into place to re-organize how we should be re-organized for the thriving of the campus and the future."
The legislation calls upon the CPE to create and oversee a management improvement plan for Kentucky State University. The $23 million dollar loan is aimed at addressing the school’s shortfall.
Wellington Representative David Hale voted yes but admitted he would like to get answers about where the money went.
“Again I think that we have to be very cautious of just giving 23 million dollars back without knowing for sure what happened to that originally and I certainly think there’s been some mismanagement there," Hale said," but, I feel like going forward we can get answers and I hope to get those answers."
Aaron Thompson said a new president at KSU could be on board this summer. But Thompson stressed that if it is not a perfect fit, they will start the process all over. Former Kentucky State President Christopher Brown the second resigned last July amid mismanagement allegations.
