Kentucky Center for Investigative Reporting (https://kycir.org/tag/auditor-mike-harmon/)
His survey found “verbal” contracts, expired contracts or contracts signed without a formal bid process. The terms often included “technology grants” that were left open to interpretation, a one-time “signing bonus,” lines of credit for capital improvements and other incentive payments.
For critics, the audit confirmed well-known complaints and suspicions. For Ramsey and his defenders, the audit had misleading findings and no smoking gun. One expert said taxpayers should be concerned.
A new state audit slammed the University of Louisville Foundation and its leadership, citing examples of broken bylaws, a “dysfunctional governing climate” and a lack of transparency.
Kentucky’s new state auditor announced Tuesday that he will continue the office’s investigation into the University of Louisville Foundation, the independent nonprofit that manages the school’s $1.1 billion endowment.