The president of New Jersey City University is out in the midst of declaring a financial emergency that the college is seeking a $ 10 million lifeline from the state government.
The board of trustees declared a financial emergency at its Monday meeting; The president resigned the same day, according to NJ.com. An acting president has already been appointed as the university has stepped in to meet its financial needs.
Board Chairman Joseph Scott has blamed the financial emergency on a combination of growing enrollment, a coronavirus epidemic and “historically low investment in universities and black and brown communities.”
The board is reported to have adopted an interim, 90-day budget to meet its structural deficit.
Outgoing President Sue Henderson, who was the subject of a no-confidence vote in the NJCU’s faculty senate in September, has come under fire for depleting the university’s financial reserves. The faculty claims that New Jersey City University’s surplus has dropped from $ 101.8 million to $ 67.4 million in Henderson’s 10 years as president, NJ.com reported. The news outlet noted that board members have disputed that assumption from the faculty.
On his way out, Henderson counted among his achievements strong improvements at the graduation rate and several expansion projects.