The board stripped Slade of her spending authority and eventually terminated her. The TSU board rehired Slade in August to teach accounting, saying they were forced to do so given her tenured status. After a public outcry, they reversed that decision, prompting Slade to file a breach of contract lawsuit against the university.
Questions remain over how much the board knew and whether they were fiscally irresponsible. “There’s no question that Dr. Slade made these purchases openly and that others knew about them,” says Goode, of the district attorney’s office. No formal charges have been brought against the board.
In August 2006, a grand jury indicted Slade and three administrators — Bruce A. Wilson, director of purchasing and senior vice president for administration; Wiggins; and Frederick L. Holts, who once worked as senior safety system engineer — on charges of “misapplication of fiduciary responsibility.” The case goes to trial in February. Meanwhile, the district attorney’s office continues its investigation, and as of late November was considering perjury charges against Slade.
“It was bad before, and it didn’t get any better under her leadership,” says Rosenthal. “There was the belief you could do whatever you wanted, as long as you wanted, because it wasn’t the university’s money, it was tax funds.”
Slade’s questionable spending is not unique among university presidents. For example, Dr. E. Gordon Gee, chancellor of Vanderbilt University, earns an annual salary of approximately $1.3 million, but he has come under criticism for spending $6 million of university money to renovate his university-owned mansion. American University President Benjamin Ladner did lose his job over $500,000 in unauthorized spending, which included European vacations and private parties. Both Vanderbilt and American are private universities.
In her final year at TSU, Slade earned a salary of $277,000, plus another $65,000 in housing, car and other benefits. Slade owned her house but sold it after she was fired.
