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\nThe University of Louisville Foundation says it has placed its chief financial officer on paid leave, in a move revealed one day after the release of a blistering audit.<\/p>\n
\nThe University of Louisville Foundation says it has placed its chief financial officer on paid leave, in a move revealed one day after the release of a blistering audit.<\/p>\n
The foundation’s interim executive director, Keith Sherman, on Friday declined to discuss the action against Jason Tomlinson. Tomlinson has been a high-ranking official during a turbulent period for the University of Louisville’s investment arm.<\/p>\n
The audit released Thursday said it found instances of the foundation overspending from the endowment. Auditors delved into details of a deferred compensation plan for administrators, and they were sharply critical of some foundation investments and spending decisions.<\/p>\n
UofL board of trustees Chairman J. David Grissom said the audit “paints a disturbing picture.”<\/p>\n
Officials point to recent changes in the foundation’s governance and financial management.
\nSource: AP<\/p>\n","protected":false},"excerpt":{"rendered":"
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