Fresno State Foundation Reforms After Review
Fresno News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The Fresno State Foundation, managing over $300 million in investments, donations, and grants, held its first board meeting post-January review by CSU, which flagged governance issues, outdated banking practices, and leadership gaps raising fraud risks for FY2024. The foundation plans to restructure its board, add university representatives, and reinstate term limits. Despite bylaws calling for open meetings, the session lacked transparency, with board members avoiding detailed discussions and pointing to the website for answers. The board approved hiring external CPAs and discussed seeking new auditors and investment advisors. Reforms are progressing, but past oversight concerns persist, with donors and the university closely watching as the foundation works to rebuild trust and strengthen controls.
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