AUC under the new president, Dr Wendth, remade itself into a professional school, abandoning its status as a Liberal Arts College. That allowed a significant downsizing and significant cost cuts, but also meant they had to abandon several Liberal Art Majors, including Social Work and Music Depts. They recently have run significant budget deficits and the Union has had to "lend" over 1.5Million in addition to the $4MM in annual subsidies from conferences and the Union. According to sources within the denomination the debt to the Union now exceeds $12MM. Under prior arrangements, part of the Conference Subsidies is re-routed to pay down the debt, but this has required several deferments to make payroll and other expenses.
This reporter has also confirmed from several sources that the college administration has "borrowed" from specific gift accounts totalling several million dollars such as the Chan Chung Dining Commons Maintenance Trust gifted by Mr Chung to guarantee the maintenance and integrity of the dining commons. In addition, William Colson, the now deceased Adventist Billionaire from Oregon contributed $1MM for the rehab of Founders Hall, the original academy and collage building that such notables as SN Haskell and Prescott used as the origins of this venerable old New England School. That sum is also depleted and Founders is not restored, an unfortunate victim of recent financial difficulties and the ongoing battle between racial components over control and administration of this academic campus within the Atlantic Union.
Here is the e-mail from the Atlantic Union President and the ex-officio Chairman of the Board of Atlantic Union College:
From the Desk of the Atlantic Union President
NEASC Continues AUC's Accreditation
Dear Friends:
We are very pleased to tell you that on Friday, February 29, NEASC voted to continue AUC's accreditation.
Dr. Barbara Brittingham, executive director of NEASC, gave this information unofficially during a phone conversation with President Wendth. Not all details have been finalized, so Dr. Brittingham herself did not yet know everything. AUC will have to wait for two or three weeks until NEASC's formal letter arrives to receive the full details.
We do know, however, that because the substantive change and new direction makes us in some ways a new college, our accreditation will be provisional until we can demonstrate that our restructuring is working. That will be accomplished by our next comprehensive site visit tentatively scheduled for Spring Semester, 2009.
On behalf of my colleagues, I want to thank all of you, including our pastors, members, and alumni association leaders, for the prayers and support that you have offered during this critical effort. The Day of Prayer and Special Offering on February 23 was a blessing to the College and our people (we'll report further on the Offering as information becomes available). There is still a huge amount of work ahead of us, but with your continued commitment and leadership AUC will not just survive, it will prevail.
Donald G. King
Atlantic Union President and AUC Board Chairman
Author
Topic: AUC is Granted Conditional Accreditation in response to Restructuring Plan (Read 14347 times)
