Wednesday, January 8 2014 5:50 PM EST2014-01-08 22:50:22 GMT
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MONTGOMERY, AL (WSFA) -
For more than four hours, members of the Alabama State University Executive Board of Trustees exhausted critical topics including the Moody's downgrade, SACS warning and major funding shortages.
A key reason for the third Moody's downgrade was depleted ASU reserves and more expenses than the university can pay.
The lack of money linked back to conversations about hiring and the new organization chart. There were also a lot of questions about potential hires that were eventually put on hold by the executive committee.
Three of them were for Diane Alexander in the area of IT, and that is why she did her presentation. So that they would understand where those position lie and the need that we have them, but we will wait because we have to.
A revealing IT briefing showed critical holes in aging systems that must be addressed such as no power backup, no generator and there have been periods of times where the campus has been "down". There is also no disaster recovery plan in place at ASU according to Alexander.
The university's financial woes may not be over. Moody's indicated that ASU could be receiving a call from Standard and Poor's Financial Services in November.