Chairman J. Paul Johnson told the small but crowded audience that the board would also consult with its law firm of Bracewell and Giuliani to review the results of its investigation into expenditures made by Slade.

She is under scrutiny for allegedly spending $138,000 in university money for landscaping and furnishings in her Memorial-area home.

She paid the money back after the story went public.

A spokesperson for Dr. Slade said she claims she hasn't done anything wrong and she would like to keep her job.

It's uncertain how long the board of regents will meet in closed executive session Thursday or what the outcome of the meeting will be regarding Slade's future.

Prominent Houston attorney Mike DeGuerin is also in attendance at the board meeting. He told KHOU-TV his firm is representing Slade.

Fifteen minutes after joining the board in closed session, Slade returned to the open board room and spoke quietly with her attorneys. Moments later, they moved to a nearby conference room.

This is the second time the board has gone into closed session to discuss Slade's future at TSU. Last month, the board decided to keep her as president, but removed her financial responsibilities until the investigation into alleged personal use of school funds is over.

According to the TSU website, Slade has been president of the university since October 1999.