Audit committee OKs review of UW foundations

Audit committee OKs review of UW foundations

The Legislature’s audit committee has authorized a review of University of Wisconsin System schools’ relationships with their private foundations.

The Joint Audit Committee voted unanimously Thursday to launch the review.

State Auditor Joe Chrisman told the committee UW schools have 74 affiliated organizations. The committee gave state auditors permission to decide which ones to analyze more fully and what the reviews will cover.

UW regents have filed a lawsuit accusing former UW-Oshkosh officials of concealing millions of dollars in improper financial transactions to that school’s nonprofit foundation for construction projects.