Report faults NJCU board for oversight of budget, Henderson

A report released Thursday morning from the New Jersey Office of the State Comptroller regarding the financial emergency at New Jersey City University faulted the school’s board of trustees for its oversight of the budget and then-President Sue Henderson, writing:

  • Sue Henderson. (File photo)

    The board failed to exercise proper oversight over the administration, especially Henderson;

  • The board received insufficient training and failed to appreciate its fiduciary responsibilities by not conducting a contractually required written performance evaluation of the president;
  • The board chose not to probe the causes of the financial crisis once the budget deficit became clear;
  • The board, without exploring the causes of the financial emergency, permitted Henderson to resign immediately before it declared the financial emergency, with separation benefits that included a $288,000 “transitional sabbatical,” a car and a housing subsidy.