By Kyeland Jackson —
U of L’s accrediting body questioned the university’s relationship with the University of Louisville Foundation, the school’s accrediting body.
University Acting President Greg Postel said U of L sent the Southern Association of Colleges and Schools a copy of Kentucky auditor Mike Harmon’s report. Harmon’s report unveiled dysfunction, questionable finances and “serious weakness” in ULF’s governance. SACS responded, saying the audit’s report brings more questions for accreditation standards.
“It appears that the institution may not be exercising appropriate control over its financial resources,” The document said. “In the relationship between the institution and the University of Louisville Foundation (ULF), appropriate operational controls may not be clearly established in writing and/or followed in practice.