Ugly UofL Foundation Audit

[Knucklehank1]

This audit was sorely needed and paints a pretty ugly picture, especially of Pres Ramsey and his chief of staff. The spending from the Foundation coffers were excessive and unchecked (and potentially may lead to litigation). I would say it was mis-managed but it would be more accurate to say it was unmanaged. Of course the payments to UofL sports administration folks are going to be called into question.

http://www.wdrb.com/story/35619610/...essive-spending-and-attempts-to-conceal-truth

 

[Steelers2012]

I'm all for doing whatever is necessary to expose all of the wrong doing, address all who had part in the process, and to take whatever steps are necessary to put the checks and balances in place so this won't ever repeat itself.

 

[jalovell23]

This is embarrassing for all UofL fans. We are the ones that pay our taxes, and pay for UofL sporting event tickets. All we do is cheer for our favorite team, while some money hungry jerks at UofL just blow all that money away.

 

[Cue Card]

I agree with all that have posted thus far in this thread. I am embarrassed yet my fandom runs blood red deep in my soul. I'll accept the University warts and call it MY University until the end of time. That just won't ever change. Embarrassed yet accept. Can't help it. UofL is my addictive drug of choice.

 

[REDFISTFURY3]

At least its out their now this school has been noithng but a headache these past few years . Hopefully all our dirty laundry will be cleaned this month so we can move on with a clean slate .and try going forward to do everything on the up and up.

 

[ThroughBlue]

How much truth is behind Jurich's son getting 800k for nothing

 

[Knucklehank1]

How much truth is behind Jurich's son getting 800k for nothing

Mark Jurich is a great fundraiser, so he definitely has been earning his pay. The question is if the logistics and oversight of his and other salaries is kosher.

 

[zipp]

How much truth is behind Jurich's son getting 800k for nothing

About as much as if slapd!cks researched it.

"Elite program," my a$$...

 

[zipp]

This audit was sorely needed and paints a pretty ugly picture, especially of Pres Ramsey and his chief of staff. The spending from the Foundation coffers were excessive...

I don't know that factually.

If you can show me what U of L was authorized to spend, that it spent more than that, that it was intentional, and that irreparable damage resulted, you have a smoking gun. Otherwise, you have pieces of a theory or story without all of the dots connected...

 

[jalovell23]

How much truth is behind Jurich's son getting 800k for nothing

http://www.bizjournals.com/louisville/print-edition/2015/09/25/mark-jurich.html
.
Mark Jurich, son of the athletic director, and associate AD for development. His university salary disappears after 2012 and beginning in 2013 he is paid almost exclusively through foundation funds. From 2010 to 2016, he was paid $767,208 by the foundation, out of a total of $934,812 total compensation.

Immediately after the audit was released Thursday, U of L sports information director Kenny Klein told WDRB's Chris Otts that the athletics department had been unaware that the foundation was the source of any of Mark Jurich's compensation.

Klein said athletics officials understood that Mark Jurich's salary came through the Office of the President because of the nepotism appearance issue.


If a financial business man is able to be in charge of a fund raising campaign worth the amount of $45 million then yes, he is worth what he is being paid

 

[Knucklehank1]

I don't know that factually.

If you can show me what U of L was authorized to spend, that it spent more than that, that it was intentional, and that irreparable damage resulted, you have a smoking gun. Otherwise, you have pieces of a theory or story without all of the dots connected...

The concerns are that:
- spending out of the endowment was WAY higher than any best practices
- apparently the board had little clue about some of these major expenditures
- the chief of staff trying to obfuscate the flow of money and advising others to destroy paperwork

I think at the very least the audit has already shown a dysfunctional board that lacked proper governance and an executive team that took full advantage of this situation

 

[eastwood45789]

The governor is to be commended for his efforts to clean up this mess. Unfortunately the state AG is a complete dumbazz and is trying to stand in the way. It's sad that the students have had to pay while big shot pigs were at the trough.

 

[ThroughBlue]

Mark Jurich is a great fundraiser, so he definitely has been earning his pay. The question is if the logistics and oversight of his and other salaries is kosher.

http://www.bizjournals.com/louisville/print-edition/2015/09/25/mark-jurich.html
.
Mark Jurich, son of the athletic director, and associate AD for development. His university salary disappears after 2012 and beginning in 2013 he is paid almost exclusively through foundation funds. From 2010 to 2016, he was paid $767,208 by the foundation, out of a total of $934,812 total compensation.

Immediately after the audit was released Thursday, U of L sports information director Kenny Klein told WDRB's Chris Otts that the athletics department had been unaware that the foundation was the source of any of Mark Jurich's compensation.

Klein said athletics officials understood that Mark Jurich's salary came through the Office of the President because of the nepotism appearance issue.


If a financial business man is able to be in charge of a fund raising campaign worth the amount of $45 million then yes, he is worth what he is being paid

Thanks for answering the question

About as much as if slapd!cks researched it.

"Elite program," my a$$...

It may come as a surprise but some people actually seek out others opinions on the matter. Especially since I generally only read one side and it's on RR and we both know how that is

 

[zipp]

...It may come as a surprise but some people actually seek out others opinions on the matter. Especially since I generally only read one side and it's on RR and we both know how that is

I doubt anyone here really cares whether you're trying to do your due diligence or not. I know I don't. That would mean I cared about your opinion.

"Elite program," my a$$...

 

[CATS1945]

I only know what had been reported.

 

[zipp]

I only know what had been reported.

I seriously doubt you even know that much.

What gives me the most enjoyment are days like today... Where we not only prove again on the field/court where LPT is in the pecking order... But we do it with what slapd!cks think is a corrupt, cheating athletic department that siphons money from slappy taxpayers.

It's like getting run over, backing up, and run over again. Please whine some more about how bad we are, please...



"Elite program," my a$$...

 

[eastwood45789]

Mark Jurich is a great fundraiser, so he definitely has been earning his pay. The question is if the logistics and oversight of his and other salaries is kosher.

I wouldn't any of these guys emptying the boots at the Crusade for Children.

 

[earsky]

I wouldn't any of these guys emptying the boots at the Crusade for Children.

Huh??Can you say again,but better?

 

[CATS1945]

Huh??Can you say again,but better?

That is a good one.

 

[Knucklehank1]

I wouldn't any of these guys emptying the boots at the Crusade for Children.

Go back to Cat's Pause. Just because the process was potentially broken doesn't mean that maleficence occurred.

 

[eastwood45789]

Go back to Cat's Pause. Just because the process was potentially broken doesn't mean that maleficence occurred.

As a long time UL fan I am indeed ashamed at the gross greed and financial mismanagement by those entrusted with the education of our students and athletes. What a poor example to youth.

 

[zipp]

As a long time UL fan I am indeed ashamed at the gross greed and financial mismanagement by those entrusted with the education of our students and athletes. What a poor example to youth.

You don't really know much of that factually. It's just your opinion which is fine. You can BELIEVE what you wanna believe, but please couch it as such. Most posts like yours are devoid of facts...

 

[eastwood45789]

You don't really know much of that factually. It's just your opinion which is fine. You can BELIEVE what you wanna believe, but please couch it as such. Most posts like yours are devoid of facts...

Don't be an ostrich - You're much smarter than that. Reports have been on WDRB, the CJ, and the governor is working to end the mess. The facts have come out in the audit. Read yesterday's CJ front page.

 

[zipp]

Don't be an ostrich - You're much smarter than that. Reports have been on WDRB, the CJ, and the governor is working to end the mess. The facts have come out in the audit. Read yesterday's CJ front page.

I'm not anything but relentless...

YOU show me proof of what you believe, and if your arguments are convincing enough, I may start to see things your way. I can assure you that's not going to be accomplished referencing out-of-context media snippets. Nor just your opinion-based rhetoric.

Show me...

 

[Mayoman]

Dang right zipp.....the Missouri stance is the right one to take.....put up or shut up slappie driveby poster.

 

[Rockfly78]

You don't really know much of that factually. It's just your opinion which is fine. You can BELIEVE what you wanna believe, but please couch it as such. Most posts like yours are devoid of facts...

What are the facts? Money was spent on that audit and its outcome was reported. Was it all BS?

 

[zipp]

What are the facts? Money was spent on that audit and its outcome was reported. Was it all BS?

I don't know what's in the audit since I haven't read it.

No one's pointing at an audit and saying "see?" You tell me specifically what's in there that you don't like, where exactly I can find it, and why you don't like it. And be prepared to answer questions if you want your arguments to hold water. Have at it...

 

[Rockfly78]

I don't know what's in the audit since I haven't read it.

No one's pointing at an audit and saying "see?" You tell me specifically what's in there that you don't like, where exactly I can find it, and why you don't like it. And be prepared to answer questions if you want your arguments to hold water. Have at it...

I don't have any arguments. I don't like or dislike any of it. All I did was read the findings just like everyone else. I just asked you what the facts were.

 

[ThroughBlue]

I doubt anyone here really cares whether you're trying to do your due diligence or not. I know I don't. That would mean I cared about your opinion.

"Elite program," my a$$...

Wouldn't even call it due diligence. RR says he was paid for doing nothing. I assumed that was a wrong, uniformed opinion and I was right

 

[eastwood45789]

What you see with a few of the above comments are folks being blind fan boys in favor of ignoring rampant corruption. The former administration ignored the needs of students while filling their pockets. No doubt this has hurt donations. Like Papa John, this fan is sick of it. At least the governor has some courage.

 

[zipp]

What you see with a few of the above comments are folks being blind fan boys in favor of ignoring rampant corruption. The former administration ignored the needs of students while filling their pockets. No doubt this has hurt donations. Like Papa John, this fan is sick of it. At least the governor has some courage.

What I see in this post is a sheep, willing to run over the cliff if his shepherd takes him there.

Show me specifically in the audit what you don't like and why, and I'll give your opinion some degree of respect. Right now it has zero...

 

[wreckcard#22]

I'm no financial guru and a lot of that was frankly over my head...but to my eye, we have grown exponentially over the last 20 years...that growth takes money, and the expense rates that were stated in that report don't shock me when compared to the brick and mortar investments that constitute the current campus...how much have we grown compared to other universities? I'd say, without any substantive facts, way more than anyone else.

Some of the characterizations in the reports cause pause, but I'm not sold on it's tone for now.

 

[Morgantown Card]

Good to get this and the nasty, ugly, skanky, stank, trick-@ss ho's out of the way. I keep reading something may come down this week. I am ready to just follow the games instead of all this crap.

 

[Petjurino]

I'm all for doing whatever is necessary to expose all of the wrong doing, address all who had part in the process, and to take whatever steps are necessary to put the checks and balances in place so this won't ever repeat itself.

I don't know man. While I agree I want this all to be over with and corrected, my fear is that this will touch Tom. There are things in the report that are pretty shady even from his end. While he may not have instigated some of it, he certainly looks to be a part of it. I don't want to clean this up if it means losing Tom. I guess my question is hypothetically, would you be okay if we lost Tom as a result of this?

 

[Steelers2012]

I don't know man. While I agree I want this all to be over with and corrected, my fear is that this will touch Tom. There are things in the report that are pretty shady even from his end. While he may not have instigated some of it, he certainly looks to be a part of it. I don't want to clean this up if it means losing Tom. I guess my question is hypothetically, would you be okay if we lost Tom as a result of this?

I was not ambiguous. I don't care who this "touches". If they have committed illegal acts (as defined by the law, not by public opinion or trolls), they need to be addressed and made unable to repeat their offenses.