Due to recent university financial problems, Interim President Castell V. Bryant has issued a university-wide moratorium on funds. This freeze includes construction projects, grant spending activities, university-issued cell phones, petty-cash accounts and domestic and international travel.
In a statement issued Wednesday, President Bryant said, “Due to recent reports on the financial health/status of the University and the University’s need to end this fiscal year without a deficit, there is herby imposed a university-wide, across the board, moratorium on all spending, regardless of budget status, except the following: Clinical/medical supplies, insurance, laboratory supplies, and U.S. postage and parcel services.”
The PeopleSoft system, which handles travel arrangements for university organizations has been placed on hold and terminated until further notice from the Office of the President.
There is no word yet on when the spending limitations will be lifted.
For more information on this story, be sure to read Friday’s edition of The Famuan.