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Fairmont State University’s annual audit reports excellent financial standing; strategic planning a priority for 2024 Impact
Fairmont State News

Fairmont State University’s annual audit reports excellent financial standing; strategic planning a priority for 2024

Falcon CenterDuring the December 7 Board of Governor’s meeting, Fairmont State University’s independent auditing firm Suttle & Stalnaker reported, for the sixth year in a row, the University closed out the fiscal year in strong financial standing.

The University was given an unmodified opinion on the audit, which is the highest status it can receive, continuing the practice of preeminent financial reporting. The audit illustrated that Fairmont State’s financials had no incorrect statements and were presented precisely and equitably.

“We take great pride in being able to share our continued financial strength, which signals to the campus and community that Fairmont State remains a secure and well-established institution,” said Board of Governors Chairman Rusty Hutson. “We have been a fount of higher education for nearly 160 years, and will continue to take measurable efforts to ensure the continued upward trend in enrollment and the retention of our students.”

President Mike Davis also included notable updates during his Presidential report. He announced that the University’s strategic plan timeline is still on track and that the landing page for the strategic plan was launched this week on Fairmont State’s website. He also shared that the higher education consulting firm EAB will assist with the strategic plan.

“I am very excited about the finalization of our strategic plan, and I am also excited for the planning process. I think the process will teach everyone at Fairmont State a lot about each other and what the University needs,” said Davis. “We are building a plan that not only helps us improve as an institution but also helps us improve our society.”

In January individual departments will meet with university leadership to collaborate on the strategic plan, and in February departments will meet with the assistance of EAB. In spring University-wide open discussions regarding the plan will be held, and the final construction of the plan will take place over the summer. The plan is set to launch in the fall of 2024 and will continue to be refined and upgraded over the next four years.

President Davis also announced that the search for a Chief of Staff is in its final stages after the top three candidates visited Fairmont State’s campus. The chosen candidate will be announced sometime in early January.

Fairmont State will also soon begin a national search for two Deans. In the coming months, a search for the Dean of the College of Science and Technology will begin following the announcement of Dean Steven Roof’s retirement at the end of this academic year. A search will also take place for a Dean of the College of Business and Aviation, as the former Dean Dr. Tim Oxley has stepped into a new role as the Associate Provost for Faculty Affairs.