Mississippi’s College Board wants to increase oversight over the finances of the state’s eight public universities.
The board voted Thursday to spell out expectations for university finances, after Jackson State University ran into financial trouble because of overspending. The College Board ultimately pressured JSU president Carolyn Meyers into resigning in October, and the university is now looking at budget cuts to reduce spending and rebuild reserves.
The board must vote on the policy again before it’s enacted.
Higher Education Commissioner Glenn Boyce will be able to recommend financial targets to individual universities as part of budget planning. The policy would also make managing for financial stability part of each university president’s job evaluation and allow trustees to refuse to consider expensive projects sought by a university in financial trouble