Tennessee State University (TSU) could run out of money as soon as April or May of this year, the university’s interim president revealed on Tuesday.
TSU Interim President Dwayne Tucker made the revelation during a “Stand Up 4 TSU Action Meeting” organized by the Tennessee Black Caucus of State Legislators at the Pleasant Green Baptist Church, which was held for the general public to hear directly from university leaders on the institution’s financial challenges and plans moving forward.
During the meeting, which lasted just over an hour, Tucker said university officials will be presenting a five-year plan to the Tennessee General Assembly regarding “financial sustainability, student enrollment, and recruitment” by the end of the month
Noting how there are opportunities across TSU to “continue to reduce the costs,” Tucker said the financial plan that will be introduced before the General Assembly will not ask the state to “bail out” the institution, but rather provide a “bridge” to the university’s “long-term sustainability over the next five years.”
One consideration on the table for TSU to save money Tucker confirmed during Tuesday’s meeting is to sell the university’s Avon Williams campus in Nashville.
Tucker said that the idea of selling the property is not something the institution is “planning on doing at the moment” but remains a possibility.
In March 2024, Governor Bill Lee signed legislation to vacate and reconstitute the entire TSU board of trustees after the Tennessee Comptroller’s Office released a forensic audit of the university that revealed “continued management shortcomings” among the institution, including how the university handled budget monitoring, collecting tuition, awarding scholarships, and more.
In November, as reported by Fox 13 Memphis, the Tennessee Senate Finance Commission advanced TSU $43 million in funds from 2025 money in order for the institution to meet payroll and run operations for the 2024-2025 school year.
In Fall 2023, a total of 8,198 students were enrolled at TSU – a decrease in enrollment from Fall 2022’s total of 9,218 enrolled students.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network. Follow Kaitlin on X / Twitter.
Image “TSU Interim President Dwayne Tucker” by Pleasant Green Baptist Church.
