Threatened with accreditation loss, Bethune-Cookman University has announced a plan to recover from its financial troubles.
BCU’s “Roadmap to Fiscal Stability and Sustainability” outlines the school’s approach to get back in good standing with its accrediting agency, the Southern Association of Colleges and Schools.
The accrediting agency placed the school on probation earlier this year after determining it had failed to demonstrate compliance with several of the agency's requirements including integrity, governing board characteristics, financial resources, financial responsibility and control of finances.
While the plan does not include a budget, it does offer several proposed actions to address financial challenges.
According to the document, the university plans to establish a zero-based budgeting process, centralize accounting and reporting activities and examine the current endowment investment strategy.
The accrediting agency will review the university’s progress and decide whether to lift the probation, extend it or revoke the university’s accreditation in June 2019.