The results from the 2022 audit were highlighted by the University’s independent auditing firm, Suttle and Stalnaker, during Thursday’s Board of Governors meeting. The findings presented demonstrated the University concluded its fiscal year in strong financial standing for the fifth consecutive year.
Fairmont State received an unmodified opinion on its audit, achieving the highest status it can receive and continuing the tradition of excellence in financial reporting. The results indicated the University’s financials were fairly and accurately presented with no uncorrected statements.
“Our continued financial strength and stability signals to our students, employees, and community that Fairmont State remains a well-established institution,” said Board of Governors Chairman Rusty Hutson. “Fairmont State has been serving the State of West Virginia for more than 157 years and we look forward in the months to come to a continued focus on marketing and enrollment efforts in order to ensure a strong freshmen class and the retention of our current students. All of which lead back to continued financial stability for Fairmont State.”
In addition to the audit results, the Board approved a requested Intent to Plan for a Master of Science in Cybersecurity and Risk Management through the College of Business and Aviation. Having received the requested approval, the College will now work with faculty and leadership in Graduates Studies to flush out the program details and provide a budget. This final plan will be brought back to the Board during the spring term for final approval and then will be sent to the Higher Learning Commission (HLC) for final approval. It is possible that the degree program may accept enrollments as early as Fall 2023.
Additional approvals were received by both the Athletic Affairs Committee and Finance Committee. Near the conclusion of the meeting, Presidential Search Committee tri-chair Jennifer Kinty gave an update on the search process.
“Our search firm, Buffkin and Baker, has been working hard over the last several weeks to build out our job description and to be sure they understand what we want in our next president,” said Kinty.
The official job posting is expected to be available in early January and will close at the end of that month. The search firm is also accepting candidate nominations. They can be sent to FSUPresident@buffkinbaker.com. For the most up-to-date information on the presidential search process, visit www.fairmontstate.edu/presidentialsearch.