Fisk University Remains On Continued Probation - NewsChannel5.com | Nashville News, Weather & Sports

Fisk University Remains On Continued Probation

Posted: Updated:

NASHVILLE, Tenn. – Fisk University remains on continued probation as it deals with ongoing financial issues.

The Southern Association of Colleges and Schools Commission on Colleges announced Tuesday they have reaffirmed the university's accreditation for good cause. Officials with the board feel the university has made progress from last year, and believe they can recover financially within a year.

The board has also authorized a special committee to visit the university as part of their probation to look at the governing board, financial resources, financial stability, control of finances, and student financial aid responsibilities.

"Fisk will address the remaining SACSCOC's recommendations related to financial stability, adequate financial controls, a balanced budget and compliance with federal regulations through outcomes from our fiscal year 2013 audit," the university said in a statement.

Last year, the school was placed on probation by the board. The university has faced financial struggles and recently won a court battle to sell a stake in its modern art collection donated by painter Georgia O'Keeffe.

Fisk continues to be eligible for federal, state and foundation contracts and grants and its students are eligible for financial aid and other forms of student support.

Fisk will address the remaining recommendations related to financial stability, adequate financial controls, a balanced budget and compliance with federal regulations through outcomes from their fiscal year 2013 audit.

The Southern Association of Colleges and Schools Commission on Colleges is the regional body for the accreditation of degree-granting higher education institutions in the Southern states.

Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 NewsChannel 5 (WTVF-TV) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.