“However, we found that the concentration of influence by President Wefald through his aggregation of
reporting and oversight duties in Mr. Krause has led to a blurring of the lines between some of the entities we
reviewed. The Foundation, the Alumni Association, KSUGCMRF, NISTAC and the Athletics Department
view themselves, and are viewed by others, as part of or associated with the institution of KSU. However,
they are all separate legal entities apart from the University. They all have as a common goal the advancement
of KSU and have at times entered into transactions with one another in support of that goal. However, as
separate legal entities, any transactions among them should be appropriately disclosed, approved and
documented allowing for transparency of intent and substance. The failure to do so raises the question of the
legitimacy of the transaction. Our report details numerous instances where transactions between the various
entities did not meet this standard.”

Yeah, it’s standard audit fare, but it’s a page turner.

I’ll read it tonight or this weekend and get my thoughts up.

or should universities be administered in a business-like manner? I suppose it would be a little less personal, but then again, it is a rather large school.

So I stole won from ksufans.com:
Audit

In many instances, this additional compensation
was not paid to the individual through the University payroll system, but rather to a private corporation or
limited liability company set up by the individual. For instance, Mr. Weiser received his additional
compensation through an entity named "The Weiser Way." Mr. Wooldridge received his additional
compensation through an entity named "Pershing." Mr. Snyder received his additional compensation
through an entity named "SSM, Inc." and Mr. Krause, at times, received his through an entity named
"Horizon Ranch."

Coach Snyder’s base salary was paid through the University payroll
system and was subject to appropriate payroll deductions. The remainder, a majority of total compensation,
was paid outside of the payroll system primarily to Coach Snyder’s corporation, SSM, Inc., and was not
subject to payroll deductions. The following fringe benefits were also noted: country club membership,
founder privilege at Colbert Hills, the use of football facilities for football camps, football suite as long as he
lives in the Manhattan, Kansas area, home football game tickets, home basketball game tickets, two courtesy
vehicles, undergraduate education expenses for his daughters, and a guaranteed 5-year contract extension as
Associate Athletics Director for his son after Coach Snyder’s departure.

I’m sure the last item will burn some people as well.