January 14, 2021 | 11:00 AM
PROVIDENCE, R.I. (AP) — The state is canceling a $76,000-a-week contract given to a advisor to evaluate Rhode Island College’s funds after state lawmakers questioned its want and why it by no means went out to bid.
The contract with Alvarez & Marsal began Dec. 14 and was scheduled to run till Feb. 28, however the state Council on Postsecondary Education, the Office of the Postsecondary Commissioner and the Department of Administration introduced that it might finish Thursday.
“The firm will provide a report on the work it completed and any preliminary findings reached,” the assertion mentioned.
A spokesman for the company mentioned the incoming administration of Lt. Gov. Daniel McKee will work with the Council on Postsecondary Education and the varsity to determine the following steps.
The agency was employed to take a look at the faculty’s funds and total operations in gentle of the coronavirus pandemic.
The faculty introduced in the summertime that’s was going through a finances shortfall of greater than $10 million and in response would reduce executives’ pay, lay off staff, and freeze hiring.
Democratic state Rep. William O’Brien mentioned the cash might have been higher spent on scholar scholarships.
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