New University and Foundation leadership a breath of fresh air.
I went to Frankfort today for an early look at the long-awaited result of Kentucky’s Auditor of Public Accounts of the relationship between the University of Louisville and its investment arm, the University of Louisville Foundation. Alas, even before the press conference began, most of the major news outlets in Louisville had already published in-depth reports of the Auditor’s findings. [Their reporters had access to an embargoed early release of the full report. My request for that opportunity went unanswered.] My observations of those who spoke or asked questions at the session interpreted the report as highly critical of how the University and Foundation interacted under the administration of Former President James Ramsey– except for Dr. Ramsey’s attorney who termed the report a disservice to the community. I will not duplicate the reports of Chris Otts of WDRB, Tom Loftus of the Courier Journal, Kate Howard of the Kentucky Center for Investigative Reporting, Joe Sonka of Insider Louisville, Kyeland Jackson of the Louisville Cardinal, or whatever other entity picks up this important story; but I encourage my readers to read some of these reports yourselves. You can read a summary handed out at the session here, and a rebuttal offered by Dr. Ramsey’s attorney, Steve Pence. The full report is available on the Auditor’s website. It contains responses by current leadership of the University and Foundation, a response by Former President Ramsey, and a rebuttal to that response by the Auditor’s office. A video of the conference is also available. I have just begun to analyze the full report myself. At least read its Executive Summary, duplicated here, which contains specific recommendations. The summaries look rather damming to me, as was in my opinion the whole presentation by Auditor Mike Harmon. Continue reading “State Auditor’s Report On Governance of UofL and Its Foundation Relationship Highly Critical.”