New Jersey Secretary of Higher Education Brian K. Bridges, Ph.D., with the support of Gov. Phil Murphy, announced the appointment of Henry J. Amoroso as the State Monitor at New Jersey City University (NJCU). The appointment follows public reports of an ongoing financial crisis at NJCU, which led to a subsequent investigation by the Office of the State Comptroller that revealed significant underlying issues with the university’s operations and financial management. Upon appointment, Amoroso will focus on steering the institution toward restored financial stability.
“New Jersey is proud of the many options our state offers individuals seeking an affordable, high-quality postsecondary education and must work to ensure these institutions can continue to provide the first-rate education students deserve,” said Governor Murphy. “The appointment of Henry Amoroso, a highly respected turnaround specialist, will help us safeguard our promise to New Jersey students and protect the public interest by promoting financial stability and accountability at New Jersey City University. Our students, their families, and the people of New Jersey deserve nothing less.”
“We have a responsibility to protect the significant higher education investments made by students, their families, and the State,” said Secretary Bridges. “With the appointment of Mr. Amoroso, NJCU unquestionably gains a seasoned expert whose acumen and values will help realize positive transformation and future solvency for the university. Equally, by taking this first step under the new statutory authority vested in my office, we become better fiscal stewards of the investment made in our institutions by thousands of students seeking access to an affordable, high-quality postsecondary education.”
This appointment marks the first time the Secretary of Higher Education has appointed a State monitor in accordance with P.L. 2023, c. 115, enacted in July. The law grants the Secretary authority to appoint a State monitor under certain circumstances as well as conduct comprehensive audits of a public institution’s finance and governance operations in an effort to ensure greater fiscal accountability and transparency at the State’s public institutions of higher education.
“I am deeply grateful to be entrusted with this role and to leverage my diverse organizational expertise to secure a stronger financial and operational footing for NJCU,” said Henry Amoroso, incoming State Monitor at New Jersey City University. “By repairing the financial harm caused by bad actors, we stand to restore confidence in the education offered and, more importantly, ensure the institution can fulfill its mission to provide high-quality education to its current students and remain a credit to the wider community.”
Henry J. Amoroso is currently a tenured associate professor of legal studies at Seton Hall University’s Stillman School of Business, a practicing attorney, and a strategic advisor to several government entities, businesses, and nonprofits within and outside of New Jersey. With service on almost two dozen boards and advisory committees and as a top business executive, Amoroso has decades of experience in diverse large-scale strategic planning and facilitating successful million- and billion-dollar transition and turnaround efforts. He is also the coauthor of two books, the most recent being Law, Business and Regulation: A Managerial Perspective, and has published several articles on the topics of higher education leadership, corporate law, and nonprofit and business management.
For the course of the appointment as a State Monitor, Amoroso will oversee all fiscal operations, budgeting, and staffing at NJCU. Within six months of the appointment, statute requires Amoroso to develop a fiscal accountability plan that will detail benchmarks the university must meet, as well as remedial actions it must take, for capacity and fiscal controls to be restored. A transition plan will also be developed by the Secretary which, if successfully executed at the institutional level, would conclude the monitor’s appointment.
“Our community is grateful for the continued support and commitment we are receiving from the State to bring the university back to full strength,” said Andrés Acebo, interim president of NJCU. “As a public anchor university that the community has depended on for nearly a century, we look forward to working with Mr. Amoroso to continue to advance the collaborative efforts that have moved us from crisis to recovery. Strengthening and faithfully stewarding our unique mission and elevating our extraordinary community to greater heights propels us all forward.”
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