Audit Reveals Financial Mismanagement at Central State University, Impacting Students
Central State University, Ohio's only public historically Black university, has been found to have significant financial mismanagement issues, according to a state audit. The audit uncovered that the university improperly used nearly $2.8 million from its endowment accounts for operating expenses, overcharged students, and mishandled federal student financial aid. Additionally, the university failed to meet the matching requirement for a $200,000 U.S. Department of Education grant. The audit also highlighted issues such as late pension payments and the absence of an employee handbook. As a result, Ohio placed the university under fiscal watch in 2024, requiring a three-year plan to achieve financial stability.