February 28, 2017

Foundation bars employee agreements until forensic audit completes

University of Louisville Foundation, ULF

By Kyeland Jackson —

The U of L Foundation approved a resolution barring employment, settlement or termination agreements with current or future workers on Feb. 28.

U of L Board of Trustees Chair David Grissom suggested the resolution, asking ULF halt employee settlements until a forensic audit completes. In a recent board of trustees meeting, Grissom said the scope of the audit expanded.

The foundation took further steps towards transparency Feb. 28, creating an ad hoc committee on board governance and organizational structure.

“Our primary goals are to protect the donors and their recipients,” ULF Chair Diane Medley said, adding students are among those recipients.

The foundation also filled board and committee appointments vacated after four board members resigned Feb. 2.

Mike Bowers, Laura Douglas, Donna Heitzman, Tom Meeker, Earl Reed and Vincent Tyra were approved to fill the positions. The foundation also nominated officers, appointing Mark Lynn as vice chair, Mike Bowers as treasurer and Laura Douglas as secretary.

ULF finished the meeting approving members for the executive committee, audit committee, finance committee, governance and organizational structure committee, nominating committee and University of Louisville Real Estate Foundation.

Kentucky Auditor Mike Harmon suggested transparency between ULF and the university after his audit revealed dysfunction in the organizations’ governance. His audit prompted the Southern Association of Colleges and Schools to question the relationship, telling U of L it could have violated three more accreditation standards. SACS expects a letter detailing the audit’s results by March 3.

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