LEXINGTON, Ky. (AP) — Kentucky's two biggest public universities are trying to improve their accountability with fundraising.
The Lexington Herald-Leader reports the University of Louisville is bolstering internal controls at the nonprofit U of L Foundation after it granted a $200,000 no-bid contract to an advertising firm whose CEO is on the school's board of trustees.
University of Louisville President James R. Ramsey, who also serves as president of U of L's foundation, says the mistake was made because "procedures were too vague."
Meanwhile, UK President Lee Todd said the school is waiting on a report about how it can better track fundraising. Among other things, the consulting firm is reviewing whether UK would benefit if it created a foundation similar to UofL's.
UK solicits most donations through a central development office.
___
Information from: Lexington Herald-Leader, http://www.kentucky.com
