In response to the monitoring report submitted by Fisk University in April 2018, the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) concluded Fisk University retains its full accreditation, with a 12-month probationary period. The university maintains full eligibility for federal funding and student financial aid. During this period, Fisk University will work on improving its financial controls, which is key to the removal of the SACSCOC probation and to achieving the school’s future operational efficiency.
“Prior to accepting the presidency in 2017, issues affecting the institution resulted in the SACSCOC Board of Trustees requesting the institution submit two monitoring reports,” said Dr. Kevin D. Rome, Sr. “The decision was largely based upon data from fiscal year 2014-2015 and does not reflect the diligent and collective work done over the past years nor does it reflect the positive progress Fisk University has made in containing expenses and increasing our revenue streams.”
Fisk has made significant changes including reducing the budget, overall spending reduction, enhanced staff training, extensive upgrades in technology, and strengthened fiscal controls to better manage university finances. These improvements will be fully reflected in Fisk University’s response in spring 2019. Fisk University continues to thrive despite the recent accreditation decision. The endowment continues to grow and in fiscal year 2016 – 2017 overall fundraising increased by 40 percent compared to 2015 – 2016. A new 2018 – 2022 strategic plan was recently approved and program majors were increased, highlighted by the addition of Data Science. Enrollment for fall 2018 is trending 87 percent higher than fall 2017 and Fisk recently received several significant endowed scholarships. Campus improvements are underway including the recently renamed Talley/Curb House and plans for a groundbreaking during the 2018 – 2019 academic year.
“Fisk will retain its accreditation, continue to educate and graduate outstanding students, and thrive regardless of this one-year probationary decision. Fisk looks forward to reporting the continued progress to the commission,” added President Kevin Rome, Sr.