Contrary to a Courier-Journal report, Jim Ramsey was not going to be cut loose from the University of Louisville Foundation at a specially-called meeting of the group’s Executive Committee on Monday. Nor was his assistant Kathleen Smith going to be fired.
The meeting, which was canceled, had been scheduled quickly over the weekend following a missive from the J. Graham Brown Foundation on Friday demanding an audit and warning that it could withhold donations from the ULF without more transparency.
“Actually the main purpose of the meeting was to issue a Request for Proposal for a full audit as soon as possible and get the process started,” said Hughes. “We have the utmost respect for the Brown Foundation and what it has done for UofL.”
Ramsey’s future was to be discussed, based on preliminary discussions between Bob Hughes, ULF Chairman; Larry Benz, Chairman of the “old” UofL board, and Craig Greenberg, another UofL board member. “We were going to debate accepting Jim Ramsey’s resignation but to be available as a resource until June 30 of next year,” said Hughes. “They indicated they were in agreement and thanked me for taking the initiative.”
Some good things occurred at the specially-called meeting of the “old” Board of Trustees of the University of Louisville on Thursday. The gut feeling from this observer, however, was that more than a little ill will was simmering beneath the surface.
The board approved a $548.3 million budget, which included a 5% tuition increase while allowing student who complete 30 hours of credit to receive a 5% credit to be applied to the following year’s tuition. As a concession to some board members, however, the budget included a freeze on tuition for the 2017-18 budget. A finance subcommittee had earlier rejected the proposed tuition increase in the current budget.
Acting President Neville Pinto reported that student enrollment at UofL will be approximately 21,500 for the fall semester. The figure includes 2,900 incoming freshmen with an ACT test score average of 25.5 and a cumulative high school grade point average of 3.6, with 465 of them qualifying for the honors program.
The meeting ended on a down note when Chairman Larry Benz reported that he has yet to obtain information about a $38 million loan from the University to the UofL Foundation without board approvals.
Jason Tomlinson, chief financial officer for the Foundation, has described the loan as a “receivable agreement,” benefitting both the University and the Foundation. Specifically, the loan was made to the UofL Real Estate Foundation, an arm of the Foundation.
When he’s announcing a contract extension for one of his coaches, Tom Jurich often says he likes to judge people on how they handle adversity. The University of Louisville athletic director has been quite adept at negotiating through tough times himself lately.
At the Bobby Petrino press conference, Jurich said he was most impressed with how Petrino handled himself when his team was 0-3 at the beginning of the 2015 season.
“We were winless and the ship could have gone in a much different direction,” said Jurich. “Bobby kept everybody together, kept the kids’ heads raised up high, with great attitudes, and we finished very strong, beating Texas A&M in that bowl game. I really look to evaluate people when the chips are down.”
Like when there seems to be a dark cloud hovering over Belknap Campus for a while now. A time that creates uncertainty on many fronts, that would not surprisingly pose a severe test of loyalty from an individual as highly respected as Tom Jurich nationally.
The local newspaper, knowing UofL is popular with its readers, has become predictable lately, posting any and all bad news about UofL on the front page. Issues like a dysfunctional board of trustees. the dumping of one board for another, employee thefts and lawsuits, the NCAA investigation of the basketball program, the state audit of the UofL Foundation, a President who defied the media and was forced to resign, and, most recently, the announcement of IRS investigations.
Submitting his resignation as President of the University of Louisville had to be the hardest thing Jim Ramsey has ever done, considering the phenomenal growth that occurred at UofL during his 14 years at the helm.
The Louisville native told this observer that he wants to continue to work with individuals and community organizations which share his aspirations for the University, wanting very much to see UofL’s trajectory continue spiraling upwards.
He’s confident UofL is in good hands with Neville Pinto filling the vacuum as Acting President. “Dr. Pinto is a strong, proven academic leader, and did an exceptional job as the Dean of Speed School and as the Acting Provost,” he said.
Ramsey said he will miss the day-to-day interaction with UofL students, staff and faculty, but wants to continue supporting the University in meaningful ways. He hopes that by continuing as President of the University of Louisville Foundation, he can contribute to UofL achieving its mission as a premier metropolitan research university.
Jim Ramsey is going over some notes with his administrative assistant in the University of Louisville Foundation offices Friday morning when they are interrupted by the messenger.
“Have you heard the news yet?”
“I haven’t heard anything,” says Ramsey. “You mean about the court?”
“The judge has issued the injunction …”
A smile crosses Ramsey’s face, followed by spontaneous laughter. “So this board is prohibited from doing anything?”
That’s exactly what it means, the decision by Franklin Circuit Court Judge Phillip Shepherd granting an injunction to Attorney General Andrew Beshear. The decision places Gov. Matt Bevin’s order restructuring the UofL Board of Trustees in legal limbo.
“Are you kidding me?” says Ramsey. “I know the judge and I am not surprised. This board was in a hurry to meet before the judge acted.”
Whether Ramsey’s resignation as President to the new board is final is anyone’s guess. The only thing certain is that there will be further judicial proceedings before anything is settled.
And, believe it or not, Ramsey actually had seven days from the day he signed the agreement to change his mind and rescind the agreement if he so chose.
If the courts declared Bevin’s order null and void, he could face the possibility of going back to work for the old board. Not likely that he would want to resign twice, or give some of the original trustees the satisfaction of seeing that happen.
Since his “resignation” on Wednesday, Ramsey has turned his full attention to the University of Louisville Foundation. He intends to retain his position as ULF President, continuing to raise funds in support of the University.
For the time being, however, he intends to get some rest and relaxation. He and Jane Ramsey are heading out this weekend with the family for seven days at a resort in North Carolina.
“It will be good to get away for a few days,” he says in the understatement of the week.