FRANKFORT, Ky.“There has been much attention and discussion since I took office last week as the 47th Auditor of Public Accounts on whether we would continue the examination of the University of Louisville Foundation started by my predecessor.
For the record, I would like to announce that we do intend to continue with the University of Louisville Foundation examination.
My office received a request from Dr. Bob Hughes, Chairman of the University of Louisville Foundation’s Board of Trustees, to continue the governance review of the Foundation and its relationship to the University. As part of this examination, we anticipate exploring best practices for governance of such non-profit foundations that are attached to Kentucky’s public universities.
I want to express my appreciation to Dr. Hughes for his request that our agency continue this examination, and I look forward to working with and having the full cooperation of the Foundation and the University of Louisville Board of Trustees as we move forward. Our goals are greater transparency and ultimately the best possible higher education system for the people of Kentucky.
We are currently completing the interview process to appoint someone that will serve as director of the office who will oversee this governance examination.”