KWC Warned Over Finances

The SACS issued a 12-month warning to the college over their financial resources.
A college commission is warning Kentucky Wesleyan to watch its finances. The Owensboro college was given a warning by the Southern Association of Colleges and Schools in its accreditation. Despite the warning, the school is still accredited by the commission.

Most Kentucky Wesleyan students are gone for the summer, but worries are still here.

"Nobody wants to be warned about anything," says KWC President Dr. Craig Turner.

The SACS placed the college on a twelve month warning, after it failed to show compliance with its finances.

"The bottom line is we haven't balanced the budget in several years," Turner says. He adds lower enrollment and loses in the school's endowment led to the bad financial state.

"Everybody, including us, lost money on our endowment, the investments that we had. And we've been fighting to gain those, of course," Turner says.

The school is working to fix the budget and enrollment, focusing more on recruiting juniors and sophomores than in the past.  He says it's paying off in a 43% increase in deposits made by students planning to live on campus.

"We were not recruiting juniors in high school and sophomores in high school, and we were primarily focused in recruiting seniors," says Turner. "Frequently, many of the students, by the time they get to their senior year know where they're going to college."

Turner adds the school's raised more than $2 million this year, but that won't help much for this year's budget.

"That doesn't help the budget the first year because the endowments don't start paying until the second year," he adds. "They have to be invested, and then they begin paying money."

Turner says they'll file an updated report with the SACS next April.  He adds the warning won't affect students that much.
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