Oakland City University has released a statement addressing continued speculation regarding the university\u2019s future and rumors that the institution could close. The main campus is located in Oakland City, Indiana in rural Gibson County, about 30 miles north of Evansville. The issue has drawn attention locally as many students from the area and Southern Illinois currently attend the university or plan to enroll following graduation this year.<\/p>\n
University officials acknowledged rumors have circulated for some time suggesting the school would close at the end of the current academic year. In its statement, the university said it does not anticipate having to shut down, but admitted current financial strains have created concerns about long-term stability. According to the statement, legal counsel advised the university to file a WARN notice with the federal government, which is intended to notify employees of the possibility of future layoffs if financial conditions worsen.<\/p>\n
Officials said media reports surrounding the filing have incorrectly suggested layoffs are planned for June.<\/p>\n
\u201cWe have no plans to do so at this time,\u201d the university stated.<\/p>\n
To help secure the institution\u2019s financial future, Oakland City University said it has been working with an investor group regarding the sale of its carbon capture patent.<\/p>\n
University officials said the investor group has provided a letter of intent to purchase the patent, and administrators hope to finalize the agreement by the first part of May.<\/p>\n","protected":false},"excerpt":{"rendered":"Oakland City University has released a statement addressing continued speculation regarding the university\u2019s future and rumors that the…\n","protected":false},"author":2,"featured_media":321946,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[143,145,144],"class_list":["post-321945","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oakland","tag-oakland","tag-oakland-headlines","tag-oakland-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/321945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=321945"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/321945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/321946"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=321945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=321945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=321945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}