Louisville, KY – Kentucky Auditor Crit Luallen has released a report
on the University of Louisville's Foundation---and on
the spending of former U of L President John Shumaker.
The report concludes that Dr. Shumaker did not use the
Foundation for inappropriate personal benefit. However,
the State Auditor is calling for tighter controls and guidelines,
particularly regarding gifts received and distributed.
The State Auditor also released an opinion on the question
of whether the University of Louisville's Foundation is a
public agency and should be open to review. She said,
"The U of L Foundation should be proud of their
accomplishments and willing to share them with this
state." However, she also noted the right of individual
donors to remain anonymous. However, the state Auditor
said the anonymity should not extend to corporations.