Page 19 - PowerPoint Presentation

Resurgence/Restore

First Monitoring Report Requested (July 2017):

 Unrestricted net assets, net of plant had a deficit

 Operational expenses (with the exclusion of depreciation) exceeded revenues (operating and non-operating)

Second Monitoring Report (Placed on Warning) (July 2018):

 The Board of SACSCOC placed the institution on Warning for twelve months for failure to comply with
Standard 4.1 (Governing board characteristics) and Standard 13.3 (Financial responsibility)

Third Monitoring Report (Placed on Probation) (July 2019):
 The institution’s narrative provided in the “Response Report to the Recommendation Contained in the
Report of the Special Committee,” contained information on several possible options of additional resources
to reduce and/or eliminate the deficit in unrestricted net assets, but a clear plan with specific dollar
reductions and a target date for eliminating the deficit cannot be seen from the response and attachments
(Core Requirement 13.1 Financial Resources) (The elimination of the $7.7 million deficit)

 Show cause letter requested

Southern University
at New Orleans