SC State seeking additional $14 million in 2015-16 - - Columbia, South Carolina

SC State seeking additional $14 million in 2015-16

Associated Press

COLUMBIA, S.C. (AP) - Financially troubled South Carolina State University is seeking an additional $14 million, which includes $6 million to pay off a state loan lawmakers approved last spring.

University President Thomas Elzey told a House budget-writing panel Wednesday the school currently owes $17.5 million. That includes $10 million in outstanding bills and the state loan it's supposed to pay back this year but can't.

Elzey is also seeking permission to furlough all university employees seven days.

Democratic Rep. Gilda Cobb-Hunter of Orangeburg sought more information on the school's plans to return to solvency. She says the Legislature understands the school's important role but will have to exercise some tough love.

Last month, the state's financial oversight board agreed to dip into reserves to give SC State $12 million over three years.

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