After declaring a financial emergency, Southern University finds itself at a crossroads where its leaders are planning for a future that involves controlling costs and investing in academic strong points. In October, the SU board voted without objection to declare a financial emergency at the Baton Rouge flagship. The move allows for easier termination of programs and tenured faculty. Faculty and alumni leaders were opposed, but university administrators say it’s the only way forward for a school decimated by state budget cuts and declining enrollment. In academic circles, a financial emergency, known as “exigency,” is the nuclear option. While the declaration may have the unintended effect of scaring off potential teachers and students, supporters say it presents an opportunity, not just to balance the budget, but to strategically reassess where Southern is today and where it’s going. In the lead are four men who’ve all been on the job less than 18 months. “I wake up saying, ‘This is a real challenge,’ ” says Chancellor James Llorens. “But I’m convinced it is a challenge that can be met.” Read the full Business Report cover story by David Jacobs here.
Today’s poll question: Do you think Southern University will emerge from its financial emergency a stronger institution?
