Quantcast

Financially troubled SC State to make budget presentation - Live5News.com | Charleston, SC | News, Weather, Sports

Financially troubled SC State to make budget presentation

COLUMBIA, S.C. (AP) - Officials for financially troubled South Carolina State University are appearing before a House budget-writing panel.

The school presents its budget request Wednesday.

Last month, the state's financial oversight board agreed to dip into reserves to give SC State $12 million over three years, despite continued questions about the school's solvency. Gov. Nikki Haley called the decision irresponsible to both the university and taxpayers.

Under the approved plan, the university will receive $6 million this fiscal year to pay long-overdue bills, then $4 million in the fiscal year that starts July 1 and $2 million in 2016-17.

Whether the funding for the state's only public historically black college represents a loan or a bailout will be part of this year's budget debate.

Haley said it appears to be a no-strings-attached gift.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly