According to reports in the Raleigh News & Observer, a recent audit of St. Augustine’s University shows that the historically Black educational institution is facing financial difficulties. The audit showed that enrollments are down, resulting in a $3 million shortfall in tuition revenues. In the fall of 2012, there were 1,387 students enrolled at the university. This fall enrollments had dropped to 1,267. Now some 200 of these students did not return for the Spring 2014 semester, bringing enrollment down to 1,064.
The report also found that a contracting firm that is constructing the university’s new football stadium has sued for breach of contract because payments for construction work have stopped. The contractor says that the university owes the firm nearly $675,000.
