The recent resignation of Larry Reese, vice president for administrative and financial services, adds more problems to the financial Aid department at FAMU.
It’s not surprising to anyone that the University has major fiscal problems. FAMU should take professional bookkeeping training and any other management sessions to get things running more smoothly.
Sen. Al Lawson, D-Tallahassee, told the Tallahassee Democrat that proposed senate legislation would provide his alma mater with about $430,000 more annually to pay for five certified public accountants to help fix FAMU’s financial problems.
Recent state audits have faulted the University for sloppy record keeping and lax internal controls.
This should be very helpful to FAMU because it will beautify the image of FAMU’s financial services. It is a good sign that the senate and the state are becoming more involved at FAMU, so they can alleviate some of the discrepancies at this public university. Because of this, FAMU can keep its name out of embarrassing headlines.
Reading the majority of the past articles about mismanagement of funds at FAMU, the editorial board found that Tom Gallagher, Florida chief financial officer, cut off pay to the previous President Fred Gainous and 18 other administrators until they got caught up with late fiscal documents.
Gallagher said FAMU needed to do more than “cut off pay.” They need to send in trained personnel to monitor financial services at the University.
FAMU is a public university and should reap the benefits that come along with being a part of the state. Gallagher is a highly trained administrator who needs to get some of his top accountants and bookkeepers involved.
FAMU needs to take three steps toward resolving the problems and build on its consistency.
Step 1: Fill positions that are interim or vacant.
Step 2: Find experts that master in crisis management to improve not only finances, but also stability and the image of FAMU
Step 3: Take any allocated money the state or Legislature approves because the assistance is highly needed for the continuation of the prestigious University.
In addition to receiving this proposed funding, FAMU needs to be open to any aid that comes in. Solid bookkeeping is definitely needed to bring about more economic assistance.
Regardless of the improper handling of funds, FAMU has gained accolades for graduating more blacks with baccalaureate degrees.
This means things are still blooming despite the thunderstorms that are covering FAMU, and that is why it deserves the additional support.
Anthony Ray Jr. is a senior newspaper journalism student from Miami. He is the online editor for The Famuan. He can be reached at firstname.lastname@example.org