Terra State Community College Board of Trustees Appoints Interim President; Initiates Financial Recovery Strategy Apr 03

Terra State Community College Board of Trustees Appoints Interim President; Initiates Financial Recovery Strategy

Following a special session held yesterday, the Terra State Community College Board of Trustees has announced a transition in executive leadership and the formalization of a comprehensive fiscal recovery plan.

Leadership Transition

Effective April 2, 2026, the Board of Trustees has accepted the resignation of Dr. Ronald Schumacher. To ensure continuity of operations and institutional stability, the Board has appointed Dr. Cory Stine to serve as Interim President, effective immediately.

Dr. Stine assumes this role as the College enters a period of rigorous financial evaluation. The Board expressed confidence in Dr. Stine's ability to lead the institution through the necessary steps to restore fiscal health.

Fiscal Watch and Remediation Plan

The Ohio Department of Higher Education has officially placed Terra State Community College in fiscal watch status. This designation follows a recommendation issued by the Ohio Auditor of State on March 17, 2026. Chancellor Mike Duffey formally notified the College of the status change on March 23, 2026.

The Board of Trustees is initiating a proactive remediation strategy to address identified deficiencies. This process includes:

• Financial Recovery Plan: Development and adoption of a plan to be reviewed by the Ohio Department of Higher Education, with a mandate to resolve current challenges within a three-year period.
  
  
• Systems Audit and Compliance: Direct consultation with the Ohio Auditor of State to align the College's accounting systems, financial procedures, and books of account with state compliance standards.
  
  
• Enhanced Trustee Oversight: The implementation of a frequent, mandatory review cycle of all College finances and financial reporting.

Institutional Commitment

Terra State Community College remains fully open and operational. Students, faculty, and staff should expect no disruption to academic schedules, campus services, or the daily operations of the college.

The College remains committed to remedy all deficiencies and continue to meet the institution's mission of providing the highest quality education and training to our students, faculty, staff, and community.

The Board of Trustees will hold its next regular meeting on Wednesday, April 22, 2026.