Examination of University’s Finances and Operations Indicates Stable Outlook
As part of an annual check-up of its institutional health, Morgan State University successfully underwent a thorough evaluation of its finances and operations leading Standard & Poor’s (S&P) Global to affirm the University with its ‘A+’ long-term and unenhanced bond ratings. In addition to confirming the University’s outlook as stable, S&P’s assessment also commends Morgan for its very strong enterprise profile and debt management.
In support of the A+ rating, other key findings outlined in the S&P analysis included:
- Healthy financial management policies
- Ample financial resources (relative to expenses and debt)
- Low-to-moderate debt burden
- Relatively stable enrollment with full-time enrollment increasing
“With a strong credit rating and the recognition as a low financial risk Morgan will continue along its positive trajectory, facilitating the conditions that allow for further investment in future campus enhancements and much-needed facilities,” said Morgan President David Wilson. “Standard and Poor’s assessment reinforces the University’s strong financial condition and provides the confidence in knowing that Morgan is operating on sure footing with a steady focus on its bottom line.”
Standard and Poor’s also based its affirmation of the University’s bond rating on the State of Maryland’s strong support of Morgan, owning a niche in the marketplace as an HBCU, and increases in full-time enrollment, despite very strong competition in the Northeast Corridor from other universities.
“We accept and appreciate S&P’s fair assessment of Morgan’s financial condition,” said Sidney H. Evans, M.B.A., vice president for Finance and Management at Morgan. “The university will continue to strengthen its financial position to meet its long-term financial and strategic goals.”
Morgan participates in multiple annual audit examinations including financial statement audits by an independent external auditor, audits by the State of Maryland Legislative Office, and audits conducted by Morgan’s own Internal Audit & Management Review office. The collective audit findings assist the University in limiting risks, assessing processes, improving best practices, promoting efficiency and strengthening compliances.
Morgan’s latest audited fiscal year ended June 30, 2017.
Morgan State University, founded in 1867, is a Carnegie-classified doctoral research institution offering more than 100 academic programs leading to degrees from the baccalaureate to the doctorate. As Maryland’s Preeminent Public Urban Research University, Morgan serves a multiethnic and multiracial student body and seeks to ensure that the doors of higher education are opened as wide as possible to as many as possible. For more information about Morgan State University, visit www.morgan.edu.
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Larry Jones, University PR