Chapter 11 allows the university to absolve indebtedness to ourselves. This will free up the campus and allow us to use it as collateral for short-term financing. We are fully accredited, but on probation for financial reasons. We will share our court plan with NCA and are reasonably sure it will be approved by NCA as well, and that our accreditation will continue. NCA is due on the campus next month for an evaluation of the circumstances.
Business continues, as usual.
You can look for yourself. Once we filed Chapter 11 university records and information are on file with the court and in public domain. Thank you to all students, faculty and staff who have continually shown their support and good graces during this difficult time. Please keep us informed of your questions or concerns. Students may see the Student Development office, faculty visit with Dr. Don Heath, and staff may consult with the Vice-President in charge of their area.