Historic Alderson Broaddus University has received a lifeline to remain open… at least for now. The state Higher Education Policy Commission (HEPC) has granted the small, financially troubled private college in Philippi provisional authorization to continue operation.
The HEPC decision came after several delays while it waited for more financial information from the school. Even then, HEPC members remained cautious, establishing several benchmarks the school must meet in the coming months.
One of caveats requires AB to make other provisions for students who might need to transfer if the school closes. Another mandates monthly reports so the HEPC can have a timely accounting of the school’s finances.
Michael Farrell, vice chairman of the HEPC, made clear during a meeting last week that it is essential for the school to meet the requirements to continue operating.
“The commission reserves the right to reconsider this provisional authorization at any point that the institution’s financial stability does not meet the State of West Virginia’s criteria,” Farrell said.
So, the HEPC has put Alderson Broaddus on a short leash, but that at least gives the University an opportunity to remain open and allows interim AB president Andrea Bucklew a chance to right the ship.
James Garvin, the new president of the school’s board of trustees, hopes the school’s many graduates will pitch in. “There is a deep, deep devotion among our alumni,” Garvin told HEPC board members. “This new regime really deserves a chance to show that all they’re projecting, everything they’ve seen, everything that we intend to implement, it’s going to turn the corner.”
The University has, like many colleges and universities, suffered a drop in enrollment. AB is projecting improved enrollment this fall, and the HEPC’s vice chancellor for finance and facilities, Misty Price, said they will be watching that number closely.
“The estimated students that have yet to enroll but are expected to enroll are 268 and that accounts for approximately $3 million in revenue and cash,” Price said. “So this estimate and this projection is really critical in the analysis of AB and if they can get to the end of the year with sufficient cash.”
The best case scenario is that AB’s unregistered but expected enrollment gives the school a financial boost, and that loyal alums come through with donations to help sustain their Alma Mater. AB is a historic institution that is integral to Philippi and the Barbour County community. Closure would be an economic hit, while leaving students scrambling for an alternative.
The HEPC has reached a thoughtful decision that gives Alderson Broaddus an opportunity to straighten out its finances while requiring the school to be forthright about its condition. Garvin literally begged the HEPC for a chance, and the school was given one.
Hopefully AB can take advantage of the opportunity.