What will Univ. of Louisville Foundation board do to address mismanagement, freewheeling spending?
UPDATE as of noon: The University of Louisville Foundation has fired Kathleen Smith, the retired chief of staff under former President James Ramsey. Smith was put on paid leave by the foundation last September.
At its meeting Thursday, the foundation approved hiring Ernst & Young for its 2017 fiscal financial statement.
UPDATE 11 a.m.: Interim University of Louisville President Greg Postel warned foundation officials that a national accreditation group will look at the foundation's repayment of loans and overall financials.
UPDATE 9:30 A.M. - No action by the University of Louisville Foundation's ad hoc committee examining the forensic audit during a 20-minute organizational meeting. A clear goal, though, is to implement changes in the Alvarez & Marsal audit.
Foundation members stepped lightly on the issue of suing past officers. No action now, but maybe later.
Read more: http://www.courier-journal.com/story/news/education/2017/06/22/how-u-l-foundation-board-address-mismanagement-overspending/415622001/