Masterís programs approved, financials receive warning
12/15/2006 4:43:02 PM
LYNCHBURG Ė Randolph-Macon Womanís Collegeís new masterís programs in education have been approved by the Southern Association of Colleges and Schools (SACS). The accreditation followed a site visit to assess the new programs.
As part of the same process, SACS warned R-MWC that it is not in compliance with the Associationís core requirement 2.11. This report supports the findings of the Collegeís Board of Trustees.
The requirement states that an institution must have "a sound financial base, demonstrated financial stability, and adequate physical resources to support the mission of the institution and scope of its programs and services." SACS pointed to the Collegeís operating deficit, deferred maintenance, and high tuition-discount rate as areas of concern.
"The findings of the Association are consistent with the opinion of the Board of Trustees that the College needs to be placed on a sounder financial footing, particularly with respect to the operating deficit and the high tuition-discount rate," said Interim President Ginger Worden. "This financial analysis was an important part of the College's recent decision to become coeducational and implement a new strategic plan."
Worden added that she will work closely with SACS to keep them informed of the progress the College makes in its new and ambitious business plan.
"The Collegeís new direction and long-term, extensive plan open many doors for this institution and will allow us to continue to provide our students with the same rigorous education that has been the hallmark of this College for 115 years," Worden said.
CONTACT: Brenda Edson, Director of Communications