Finance
Florida A&M University Receives Special Budget Provision for Presidential Salary
2025-06-15

A last-minute adjustment to Florida's 2025-2026 budget proposal allows Florida A&M University (FAMU) to bypass a legislative restriction that limits the amount of public funds state universities can allocate toward presidential compensation. This comes amidst a contentious dispute between FAMU's Board of Trustees and its Foundation regarding Marva Johnson's remuneration package. Currently, state law caps public spending on university president salaries at $200,000, requiring institutions to cover the remainder with private funds. Johnson, appointed as FAMU's president last month, faces significant opposition from alumni and stakeholders due to her connections with Governor Ron DeSantis. The FAMU Foundation, tasked with fundraising, is also critical of the substantial compensation plan, which could reach nearly $900,000. Additionally, the Foundation is concerned about fulfilling other financial commitments amid declining donations.

On June 6, some FAMU trustees expressed dissatisfaction with the Foundation's refusal to support Johnson's salary, even considering decertifying the organization. While operating semi-independently, the Foundation remains under the oversight of the Board of Trustees. Meanwhile, Johnson’s appointment awaits approval by the Florida Board of Governors, with FAMU aiming to settle the compensation disagreement before this crucial vote. Upcoming on Monday, the Florida legislature will consider the 2025-2026 budget, including the special provision for FAMU.

Budget Flexibility for Presidential Compensation

The recent amendment to Florida's budget permits FAMU to circumvent the existing legal cap on public funding for presidential salaries. Traditionally, state colleges and universities have been restricted in how much public money they can use for such expenses. Now, with this change, FAMU gains the ability to allocate more taxpayer dollars toward their president's compensation. This development arises during a period of heightened scrutiny over Marva Johnson's hiring, particularly concerning her ties to political figures and the financial implications for the institution.

This shift in budgetary regulations has sparked considerable debate. Critics argue that allowing greater flexibility in using public funds may set a precedent that impacts other educational institutions across the state. For FAMU, however, it offers an immediate solution to address concerns surrounding Marva Johnson's compensation without solely relying on dwindling private resources. As the university navigates these challenges, balancing public perception and fiscal responsibility becomes paramount. The decision reflects broader discussions about how higher education entities should manage finances while attracting qualified leadership talent.

Navigating Institutional Tensions Over Leadership Pay

Relations between FAMU's Board of Trustees and its Foundation have grown strained due to disagreements over the proposed pay structure for Marva Johnson. Key issues involve both the size of the compensation package and the timing of associated expenditures. With fundraising efforts currently lagging and multiple outstanding financial obligations, the Foundation finds itself under pressure to reallocate limited resources. This situation highlights deeper tensions within the university regarding resource allocation priorities.

The Foundation's reluctance stems not only from financial considerations but also from skepticism about Johnson's suitability as president given her perceived alignment with Governor Ron DeSantis. Some board members fear setting unfavorable precedents if they approve such high compensation levels under current conditions. During a recent meeting, certain trustees voiced frustration, hinting at potential actions like decertification if cooperation isn't forthcoming. Moving forward, resolving these conflicts requires careful negotiation and compromise. Ultimately, finding common ground will be essential for maintaining institutional stability and ensuring continued progress toward strategic goals. As the Florida legislature prepares to finalize its budget, all parties involved recognize the importance of reaching a resolution swiftly to avoid further disruptions.

Lessons of Financial Wisdom Passed Down by Fathers
2025-06-15

A profound influence often shapes how women approach money and career aspirations, rooted in the subtle yet impactful teachings of their fathers. These lessons transcend formal discussions, manifesting instead through everyday actions and values modeled in daily life. Jacqueline Howard, currently leading Money Wellness at Ally, reflects on her late father's enduring legacy. His philosophy, "Time will pass regardless," became a guiding principle that propelled her to pursue further education and embrace lifelong learning. A Detroit police officer and Air Force reservist, he instilled in her an unyielding work ethic and the belief that education is a pathway to freedom. This foundation paved her way to Syracuse University and ultimately her current role.

For clinical therapist and entrepreneur Patrice N. Douglas, the financial wisdom imparted by her father took a different form but was equally transformative. She recounts how her father encouraged saving every coin until it accumulated into dollars, framing this practice not as restriction but as empowerment and stability. As a child, accompanying him to the bank to exchange her savings for cash became a cherished ritual that laid the groundwork for her financial habits today. Brianna Van Zanten, another young professional, credits her father with teaching her to evaluate each financial decision based on value. His advice against ordering grilled cheese at restaurants symbolized a broader lesson about discernment in spending, focusing on quality and purpose over convenience or illusion.

The shared experiences of these women highlight the importance of passing down financial literacy in ways that emphasize balance and intention rather than mere frugality. They advocate for using everyday moments to discuss value—not merely in monetary terms but in experiences and growth. By embracing their fathers' teachings, they have cultivated financial confidence while acknowledging the complexities inherent in such guidance. Their stories inspire others to adopt similar approaches, ensuring that future generations inherit not just financial acumen but also a mindset of resourcefulness and sustainability.

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Triumphant Return: Carlota Ciganda Conquers at Meijer LPGA Classic
2025-06-15

In a remarkable comeback, Spanish golfer Carlota Ciganda claimed her first victory in nine years by securing the top spot at the 2025 Meijer LPGA Classic. Her triumph was marked by consecutive birdies on the final two holes at Blythefield Country Club. This victory not only ended her long drought but also highlighted her resilience and unwavering belief in her abilities. Alongside Ciganda's success, other players like Sofia Garcia achieved significant milestones during the event, marking a week of achievements for many competitors.

A Journey Through Triumph and Doubt

At the picturesque Blythefield Country Club in the heart of autumn, where golden leaves danced in the crisp air, 35-year-old Carlota Ciganda showcased an extraordinary performance that captivated spectators. With a final score of -16, she edged past Hye-Jin Choi and So Mi Lee, who followed closely with scores of -15 and -14 respectively. The tournament, held under clear skies and amidst vibrant foliage, saw Ciganda clinch a substantial $450,000 prize from the $3 million purse. Meanwhile, Paraguayan player Sofia Garcia celebrated making her first cut in five starts this season, finishing tied for 14th despite a challenging final round.

The leaderboard featured a diverse group of talents, including seasoned veterans and emerging stars, each contributing to the excitement of the competition. The financial rewards mirrored their efforts, ranging from Ciganda’s grand prize down to smaller yet meaningful payouts for those near the bottom of the standings.

From a journalistic perspective, Ciganda's victory is more than just a win; it symbolizes perseverance against self-doubt and time. It serves as a powerful reminder that even after years without success, dedication and confidence can lead to triumphant returns. For aspiring athletes and enthusiasts alike, this story underscores the importance of maintaining belief in oneself, regardless of setbacks or prolonged dry spells. Such narratives inspire hope and determination across all walks of life, proving that every challenge presents an opportunity for growth and eventual success.

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