Kansas Volunteer posted this question in the comments section:
"The director of news services of PCUSA, who is a board member, says the college is preserving its core property so the college can resume as soon as finances are in place. This blog and comments do not seem to agree with that statement. Who are we to believe?"
I attempt an answer below:
I don't doubt that board members would choose to resume operations if finances were in place. What would that require?
1. Debt Free. The College would have to be debt free in order to move forward. Currently, outstanding debt is somewhere between 6 and 10 million dollars. The current plan is to sell property, even the core campus possibly, in order to pay this off.
2. Working Capital. The College would need at least 10 to 20 million to open shop once again. New hires, student recruitment, and additional costs must be paid up front. Serious physical plant issues would need to be addressed. Deferred maintenance is estimated at 20-60 million.
3. Accreditation, licensure, and financial aid. The College's accreditation is scheduled to end in March of 2009, when the teachout plan ends. Authorization to operate in Alaska was revoked in September 2007. The Dept. of Ed. pulled authorization to disburse financial aid back in July.
4. Trust. Who will work at the College, and who will attend? The reputation of the school is worse now than prior to closure.
From my perspective, these challenges are far above the capacity of the current board to effectively meet. It may also be that the board member referenced made this statement prior to the most recent news regarding Alaska Growth.
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4 comments:
Very good answers Chris!
"The director of news services of PCUSA, who is a board member, says the college is preserving its core property so the college can resume as soon as finances are in place."
It was John Stein, former city administrator, who told the city assembly that the core property of the college may now be sold. Such may not be wish of the president and board, but it appears that their wishes may not have anything to do with what will happen.
If you cut and past this link: http://kcaw.org/modules/local_news/index.php?op=default&page=1 it will take you to Raven Radio's local news site. Scroll through the news stories and find the news story where there is a photo of the core campus. Listen to this story and you will hear Dobler say EVERYTHING is for sale except Sage. There you have it.
Don’t forget SJ is not only in debt, but expenses continue to mount. Sure they are making a little bit of money on rent, but there is no way that the rent is covering the fuel oil and maintenances expenses.
I hate this. I feel like the community will suffer such a loss if the core campus is lost. I wonder if it is possible,as many students used to discuss, for the state of Alaska to take over the core campus and use it to expand the state college system. At least then it could continue as an educational institute in some form. I just don't want to see SJ become some atrocity. Not that the current SJ hasn't already become that...
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