It would seem clearly not the case that the university's financial survival is at risk, which is the AAUP's legal definition for a declaration of exigency.
According to the AAUP's Recommended Institutional Regulations , a financial exigency such as the Board will consider at its March 4 meeting, is
An imminent financial crisis that threatens the survival of the institution as a whole and that cannot be alleviated by less drastic means than the termination of tenured faculty appointments.
One hopes that the Board will discuss whether hiring of non-essential non-academic personnel is a pretty good indication that additional measures could be taken to
assure continuity of the university before faculty are terminated.