Economic woes are touching almost every sector right now, and academia is no exception. ORU is not specifying which departments will experience cuts – but cites it as necessary to remain fiscally solvent. Ralph Fagin noted, “You can’t spend more than you’re taking in.” We wish someone would tell that to the government. Oh wait.
Remember that independent audit that the former Board of Regents ordered last year? All evidence points to the fact that the audit was delivered ORALLY and NEVER delivered in writing. No really, we’re not kidding.
Please note that this was the audit delivered to the FORMER governing body of the school, which has since been replaced.
Normally we would write on this, but this time we’ll let you read another person’s excellent take on the matter. You won’t be disappointed.
Click here to read the analysis.
Highlights from the speech given by Dr. Ralph Fagin, interim president of ORU.
Debt has been cut to 18 million (from 55 million).
ORU has the capacity for 800 more students. This will fuel speculation on whether enrollment has dropped significantly due to the scandal. ORU is definitely in a “rebuilding phase.”
The university is starting a multi-million dollar scholarship fund.
“You could buy everyone a plasma-screen TV for their rooms, it doesn’t matter, you have to treat everyone like adults.” - Andrew Saah, Sophmore, ORU (Accepted to University of Maryland as a transfer student)
Ouch – one could have seen this coming. It’s something that should have happened long ago, after years of struggling with a crushing debt and a corporate culture of fear, Oral Roberts University has another major hurdle to overcome. Since its beginnings, ORU has taken on the role of a “surrogate parent/guardian” for its students. Whether you were 18 or 40 –if you lived in the dorms –you had a curfew and an RA telling you to clean your room. Adding insult to injury, it cost you a pretty penny too, and up until 2001, you had to wear business attire to attend classes.
With tuition costs soaring and more students footing the bill for their own education, they want to be in control of their college experience. ORU has improved over the years with the adoption of more customer-service oriented approaches, but the recent scandal has made many of the most forgiving students and parents take a step back and ask “what am I really getting for my money?”
Many of the former regents presided over “feeder” churches (ones that actively recruited its high-school graduates to attend ORU.) This could partially explain the drop in enrollment. In addition, the current economic pullback is probably driving many students to stay closer to home or attend community college for the first two years. (Many of ORU’s students come from out of state.)
ORU has a lot of ground to cover and must reinvent itself to survive. Vanguard University of Southern California (affiliated with the Assemblies of God) successfully reinvented itself back in 1999. Almost a decade later Vanguard is thriving. ORU can accomplish the same.
We’re not saying that ORU isn’t a worthwhile education. In fact, it’s fantastic in many ways. With no fraternities, students actually attend class, are just as competitive (mentally, physically and academically) with students from other colleges and are adequately prepared for the workplace.
Look for our new article on “What ORU Must Do” in the near future.
In the midst of homecoming festivities this weekend on campus. New allegations have surfaced that 1 billion (with a capital ‘B’) were funneled through the university inappropriately. The claims come from a former senior accountant who is suing over the loss of his job at the university.
Our Thoughts:
We have no idea where that kind of money would have come from, even in a former “oil-rich” town such as Tulsa. We have serious doubts, but anything is possible – including a larger scheme involving other outside organizations. Regardless of what may or may not have happened in the past, things have now changed for the better.
We have one thing to say to the new board of trustees. Please, no golden parachute for Richard.
ORU received the remaining $62 million of Mart Green’s $70 million dollar donation to the university.
ORU is now taking steps toward becoming a financially accredited religious organization through the Evangelical Council for Financial Accountability (ECFA).
Save ORU previously stated that this was a necessity in order to restore ORU’s public image with the community, alumni and donors. Link to story.
A resource panel will also help oversee the university’s transition as they search for a new president and bring the school back to sound financial footing. The committee, led by Billy Joe Daugherty, includes Karen Arutunoff, Rick Fenimore, Dr. Glenda Payas, Rick Pearson and Executive Vice President for Finance and Operations David Ellsworth.
Ralph Fagin, Executive Vice President for Academic Affairs, will serve as interim president. Link to story.
The ORU Board of Regents have unanimously voted to accept the remaining $62 million gift from donor Mart Green. ORU will also join the Evangelical Council for Financial Accountability, something we suggested back in October.
Green will also assume George Pearson’s position as chairman of the board of regents.
Details of Green’s Proposal Include:
(from the ORU website)
- Shared governance under a new set of bylaws which will now govern the university and keep the mission and vision intact.
- Replacement of the Board of Regents, Business and Spiritual, with a single Board of Trustees, who will govern the university in trust on behalf of its students, faculty, alumni and other stakeholders.
- Oral Roberts will continue as Chancellor of ORU and will be named a Trustee for the remainder of his life.
- Use of the $62 million donation will be determined by the Board of Trustees.
Save ORU would like to thank Mr. Green for his enormous contribution and commitment to Oral Roberts University, and believe that “The best is yet to come.”
Professor John Swails has settled his lawsuit with ORU and has been reinstated to his position. A gag order is also now in effect – attorneys and parties involved in the ORU lawsuit are forbidden from talking about the case.
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