The BOG task force overseeing FAMU's finances will have to scale back its lofty oversight plans. The task force had expected to receive $3 million in funding to support their work from the Florida Legislature, instead they got $1 million. "We're going to have a difficult job picking and choosing the things we can accomplish," chair Lynn Pappas told other members in a conference call. "It is not the scope of work I went into this hoping to accomplish."
The task force was formed after recent state audit turned up 35 audit exceptions at FAMU. Mrs. Pappas was considering hiring a consultant that specializes in higher-ed turnarounds, but even $3 million probably would have been short, given how much such consultants typically charge for work on comparable projects. Instead, the task force will have to think about exactly what it wants to accomplish, and see if there are ways to draw resources and expertise from other universities.
Already, the task force is recommending that new trustees appointed to the FAMU BoT have expertise in financial matters, a background in accounting or a CPA. Their are three positions to the FAMU BoT now vacant, two will be filled by the Board of Governors and one by Gov. Crist.
Once they demand a REFUND from KPMG - for all the Millions they have been billing us for for doing NOTHING ... WE should have plenty in the cash register to take care of this matter.
ReplyDeleteUncalled for. The legislature wants financial accountability but won't fund it. They are again trying to bring down FAMU. This just doesn't happen to the white schools.
ReplyDeleteNot really, 12:25PM. There's a reason for the trim down in funding. 12:04PM is almost there with the answer. The powers want the task force to narrowly focus on KPMG and the recent former administration's dealings with them. A place where Pappas really didn't want to spend a lot of energy. Hang in there.
ReplyDeleteNO MONEY. NO POWER. I guess the legislature has gotten tired of funding stuff and having folks tell them they just don't know what is happening to the money or the school.
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