Paine College Announces Plan to Deal With Budget Shortfall
Filed in HBCUs on November 20, 2015
Earlier this month, Paine College in Augusta, Georgia, announced that it was unable to pay its faculty and employees as scheduled. But employees did receive their paychecks within a week.
In June 2014, the Commission on Colleges of the Southern Association of Colleges and Schools placed Paine College on accreditation probation. In June 2015, the probation was extended for an additional year to give Paine College time to address the remaining problems that pertain to financial resources and financial stability.
Samuel Sullivan, interim president of Paine College, recently launched the “Build It Back: Rally to Save Paine College Campaign.” The fundraising campaign is designed to raise emergency funds for current operations. President Sullivan stated that “there will be additional cutbacks. We have to proceed by trimming our costs and making sure we make wise decisions on how to spend the revenue. We are moving toward a more efficient, well-oiled machine.”