FRANKFORT, KY (AP) – Kentucky State University is taking corrective actions to stabilize the school’s finances after the resignation of its president last month.
The university’s board of regents was recently briefed on its finances that include $13 million in pending, past due or unpaid debts. The university says the debts include $3 million in vendor invoices and about $5 million owed to clear construction invoices.
New acting president Clara Ross Stamps succeeded former president M. Christopher Brown. Brown resigned last month amid concerns about the school’s financial health and lawsuits alleging misconduct by campus officials.