Tennessee State University’s newly appointed interim president Dwayne Tucker told state lawmakers Monday that he will work through the holidays to prepare a new financial plan for the public, historically black university.
Tucker was named to his new role on Friday following the abrupt resignation of former interim President Ronald Johnson last week amid pressing financial issues for the school. With his new appointment, Tucker resigned from the TSU Board of Directors, where he had served since April, and temporarily relinquished his role as CEO of LEAD Public Schools.
“What I want to do is provide some stability to the university in terms of resources,” he told the State Building Commission on Monday, marking his first day as interim president. “That’s the only way we can make progress. “
Board member Dwayne Tucker asks a question during the TSU Board of Trustees meeting at Tennessee State University in Nashville, Tennessee, Friday, September 20, 2024.
Tucker, a longtime businessman, said he has facilitated turnarounds of major companies in the past and plans to gain support from other business leaders as he works to address the university’s problems.
In recent months, the state has provided TSU with more than $30 million in cash to help keep the institution financially viable. TSU was barely able to make payroll this fall and laid off more than 100 employees in October. During his short term in office, Johnson also introduced austerity measures, a spending freeze on non-essential spending and a hiring freeze. In addition, he laid out a plan to avoid a $46.1 million budget deficit at the end of the fiscal year on June 30 — something Tucker and state leaders agreed Monday was not enough to ensure the university’s sustainability to guarantee.
Because he is brand new to the role, Tucker asked the committee for time to develop his plan, promising to work closely with state officials. The committee ultimately agreed to hear Tucker’s plans at its Feb. 13 meeting.
Here’s what you need to know about Monday’s discussion.
More: LEAD Public Schools CEO Dwayne Tucker named interim TSU president
Tennessee officials are urging TSU to sell real estate and cut programs and faculty
During the meeting, committee member Lt. Gov. Randy McNally asked Tucker if he would prepare a financial contingency plan that the committee recommended for TSU. Commissioners also urged Tucker to consider making cuts to faculty and underperforming academic programs, along with selling or leasing the downtown campus and selling a largely unused 25-acre site on the John C. .Tune Airport.
Tucker said “everything is on the table” as he tries to quickly understand the full extent of TSU’s financial situation. Committee member Tennessee Comptroller Jason Mumpower asked Tucker and other TSU leaders in attendance to show they understood the urgency of the current situation.
“Tennessee taxpayers are not being called upon to bail out any other university…in the state the way we were called upon to bail out TSU, largely because of the poor judgment of the previous president,” Mumpower said.
Last year, federal officials calculated that the state of Tennessee had underfunded TSU by $2.1 billion over 30 years.
Tucker assured the committee that he understands the gravity of the situation, again citing his long career as a businessman. Tucker is also a TSU graduate and previously served as chairman of the foundation board. He said he will develop a clear, concise plan to present to the committee in the coming weeks.
“I want to come to you with peace of mind,” he said.
State leaders are praising TSU for cutting ties with former President Glenda Glover
Mumpower confirmed the board’s decision to accept Johnson’s resignation, along with the resignation of TSU general counsel Laurence Pendleton. He also praised the board for pushing Johnson to terminate an agreement with Glover drafted by previous leaders that would have given her a total of $1.7 million in a payout and an ongoing advisory role over the next four years.
Mumpower also said that Glover “made himself out to be a bandit, while all he left behind was a legacy of dysfunction.”
Mumpower pointedly asked Tucker and TSU board vice chairman Charles Traughber whether they were personally willing to sever all ties with Glover. Both said yes, while insisting her contract is the subject of possible lawsuits. As of November, board chairman Dakasha Winton said Glover had extracted more than $500,000 in wages from the agreement.
After the meeting, Tucker said he felt the questions were fair and expressed hope for the future as he and state leaders work together to stabilize TSU.
This article originally appeared on Nashville Tennessean: Tennessee State University: Tucker promises new financial plan
