College must submit follow up report on financial plan in fall 2008
12/11/2007 9:30:09 AM
LYNCHBURG -- The Southern Association of Colleges and Schools (SACS) will announce today its decision to remove Randolph College from warning.
We are extremely pleased with this news. It acknowledges the many steps the College has taken and the progress we have made in the past year. However, SACS will monitor the College in the upcoming year, and we will be required to submit another report on our financial plan in the fall of 2008.
The College will continue to work hard to avoid further sanctions and to make substantial progress in its efforts to bring revenues and expenses into balance. The College’s plan for financial stability includes the measures taken in the past year and those measures we plan to take in the future, including a substantial infusion into the endowment.
The end result will be an institution that is healthier, stronger, and poised for a successful future worthy of its rich history.
CONTACT: Brenda Edson, Director of Communications