The school somehow let the situation go on until they actually had no cash left to pay anyone.
WISHTV News reports:
Martin University terminates all staff amid financial crisisA now-former employee of Martin University told News 8 Monday university leaders have terminated everyone because they don’t have the money to pay them.As News 8 reported last week, the university will pause its operations at the end of the current semester due to financial difficulties and a decrease in student enrollment.Kory Amyx worked as Martin University’s senior financial aide and veteran affairs adviser. He said staff were told at a meeting late Monday morning the university’s bank account is empty and, as a result, Interim President Felicia Brokaw does not know when they will get paid.“They said they don’t know when they will get us paid. They plan to get us paid, but whether that happens tomorrow, the next day, a month, a year, who knows?” he said.Amyx said Brokaw told staff she is working to cobble together enough money to pay staff the paychecks that were due Monday, including donations directly from the university’s board of trustees. Amyx said about two dozen people are affected. He said the university is emailing termination letters individually because on-campus IT services have stopped working.“They did use the word ‘terminated’ over and over for all of us and it kind of caught my ear as well,” he said. “Why we weren’t laid off versus terminated, I don’t know.”During the meeting, he said university leaders told staff the Higher Learning Commission considers a stoppage in instruction as a closure, not a pause in operations.Amyx said university staff were aware of the institution’s financial struggles but they were under the impression the university would remain operational until May or June. He said Monday’s decision came as a shock. He said the fact that the decision came right before Christmas makes it all the more painful.
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