TSU President Dwayne Tucker Says ‘Shared Sacrifices’ Have Improved Financial Outlook

Dwayne Tucker (Photo by TSU)

Tennessee State University (TSU) President Dwayne Tucker told the university’s Board of Trustees on Friday that the “shared sacrifices” students and staff have made since he took over last year are making a difference.

The university president said TSU has exceeded its deficit goals in fiscal year 2025 by $13.2 million and is expected to exceed them again in fiscal year 2026.

Tucker took over leadership duties at TSU last December after overseeing the growth of Nashville charter operator LEAD Public Schools for more than six years.  He inherited a university that ended the 2022-23 fiscal year with an operating revenue loss of more than $128 million, according to an audit by the Tennessee Comptroller.

Tucker detailed some of the steps his administration has taken to improve its finances to trustees, beginning with “purging” students who haven’t paid their fees and charges for the first time in more than six years.

“It’s greatly reduced our ongoing A/R (accounts receivable) and collections risk while improving the strength and stability of our cash flow,” said Tucker. 

New Hires and Salary Moves

Under Tucker’s leadership, the university also paused staff tenure promotion decisions and deferred salary increases in the 2025-26 year.

Tucker says another important step to help TSU’s finances is investing in positions that will improve revenue, including the new VP of Enrollment Management and the new Director of Fundraising, who started in September.

“That goal to continue in the shared sacrifice, if we continue to grow revenue, reduce expenses, we have an opportunity to make a big difference in our cash flows going forward,” said Tucker. “And more importantly, getting to a positive bottom line, instead of five years, in three years, that would be my goal.” 

History of Financial Challenges

If TSU were to reach a positive bottom line in three years, as Tucker hopes, it would mark a major turnaround following years of financial challenges and criticism from state leaders about the university's fiscal management under former President Glenda Glover.

The Tennessee General Assembly voted to oust TSU’s Board of Trustees in 2024, and Glover’s initial interim replacement resigned after less than five months on the job.  University supporters have consistently argued that TSU has been underfunded compared to other state institutions that are not historically black colleges and universities (HBCUs).

Last June, TSU reached an agreement with the State of Tennessee that university leaders hoped would additionally help with budget challenges.

Under the agreement, TSU would divert $96 million from a $250 million pool of deferred maintenance funds to support the university’s operational needs. TSU leaders felt the agreement would help focus on long-term goals while also ensuring a more stable financial future.