June 9, 2017; Inside Higher Ed
NPQ readers will remember stories (here and here) about the multiple governance, management, and financial issues affecting the public University of Louisville (U of L) and the 501(c)(3) nonprofit University of Louisville Foundation (ULF). As part of extensive efforts by the school and foundation to understand and address longstanding abuses, the university commissioned an independent forensic audit (significantly different and more detailed than a typical financial audit) that was presented to its board last Thursday and almost immediately released to the public. Although the audit was restricted to the 2014, 2015, and 2016 fiscal years, it describes events and transactions that occurred years earlier.
In advance of Thursday’s events, the current interim university president, Greg Postel, said he hopes the release of the 269-page forensic audit report will help “close the door on the previous chapter for both the University and the Fou