LOUISVILLE, Ky. (WHAS11) -- It is the $38-million question being asked at UofL; what happened to a money transfer between the University and Foundation? Was it authorized?
Now the University of Louisville Foundation's Chief Financial Officer is prepared to make a presentation and Doctor James Ramey's attorney suggests it will answer those questions, but may also raise others about why the issue caused concern in the first place.
“There's a big difference between saying they were unauthorized or not authorized,” said Steve Pence. “Because saying they were not authorized suggests some misconduct and that simply didn't occur here."
Steve Pence represents the former University President, Dr. James Ramsey. This week Pence sent us what he described as a summary of a financial report prepared by Foundation Chief Financial Officer, Jason Tomlinson. Pence claims the report reveals that the $38-million were an authorized and transparent funds transfer.
The same presentation was shelved last week during a meeting of the UofL Foundation Board that saw the resignation of Ramsey from the school's fundraising arm.
Via e-mail, Jason Tomlinson explained that he did not draft the summary but it does appear to be taken from his planned presentation. He wrote: "This summary is probably better reviewed in the context of the full presentation."
New UofL Foundation Board Chair Brucie Moore called a meeting that is scheduled for this Friday and Tomlinson's presentation is on the agenda.
Pence suggests the presentation will also reveal several other similar authorized transfers through the years. He questions the motive behind some recent statements that lead to a domino of other consequences at UofL and the Foundation.
"So, the idea that there were unauthorized transfers is a serious allegation and I think it has to be looked into,” said Pence. “If the CFO of the Foundation determines, or says, that they were in fact authorized I think we need to look to see who made that allegation and why were they made.”
When asked whether he felt Dr. Ramsey would feel vindicated by Friday’s presentation, Pence said, “I don't think Dr. Ramsey needs to feel vindicated. Dr. Ramsey is vindicated by anyone who drives down 3rd Street, or Southern Parkway, or University Drive, or down Central Avenue and see what he has accomplished over the last 14 years with this university. And I’m not talking just about the campus facilities but the increased graduation rates, the research being done downtown. That was done under his watch. That's his vindication."