On October 25, Central State University, a historically Black institution in Wilberforce, Ohio, was placed on fiscal watch by the Ohio Department of Higher Education (ODHE).
The fiscal watch was declared by ODHE Chancellor Mike Duffey, who has the authority under Ohio state law to place a college or university under fiscal watch if they determine immediate action is necessary to improve the institution’s financial condition.
Under the designation, Central State will develop a financial recovery plan with a goal of ending the fiscal watch within three years. The HBCU is required to provide quarterly reports to its board of trustees and Chancellor Duffey. Additionally, Central State will receive consultation from the Ohio Auditor of State’s office to enhance the university’s budgeting, accounting, and reporting procedures.
“Central State University has a distinguished history, fulfilling a unique role in federal research and extension that is critically important to our state,” Chancellor Duffey said. “Post-pandemic, institutions of higher education nationally are facing constrained finances. With today’s fiscal watch declaration, Central State University will receive assistance in adapting and positioning itself to become an even stronger and more competitive institution.”
