Kentucky State University debts total $13 million

Posted at 9:57 AM, Aug 19, 2021
and last updated 2021-08-19 09:59:04-04

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 the school's finances that include $13 million in pending, past due or unpaid debts, according to a release from Kentucky State.

The debts include $3 million in vendor invoices and about $5 million owed to clear construction invoices.

Gregory Rush, the university's vice president for finance, reported to the board on the debts. Rush said new acting President Clara Ross Stamps has “requested due diligence and aggressive budget tracking and compliance review,” according to the release.

“The good news is that we are gaining clarity and understanding in regard to the financial health of Kentucky State University,” Stamps said in the release.

Stamps succeeded former president M. Christopher Brown, who left the job amid concerns about the school’s financial health and lawsuits alleging misconduct by campus officials.