The University of Connecticut Foundation is back in the news and back at the Capitol for the perennial tug-of-war over opening the foundation’s books. In the last two legislative sessions,
lawmakers have introduced bills that would subject the fundraising arm of the university to the Freedom of Information Act and allow the Auditors of Public Accounts to review the foundation’s finances.
Those bills went nowhere. But this year, a dramatically watered-down version of the legislation has been introduced that would require the foundation to release a laundry list of documents – most of which are already public by state or federal law. Perhaps the most significant change involves the disclosure of how many disbursements the foundation makes for various categories of support, including scholarships and endowed professorships and program support – although the university already reports the total amount spent on those categories.
A second bill, for which a public hearing is scheduled tomorrow, March 18th, would require the foundation to release information on its financial support for faculty and staff (though the bill’s wording leaves it unclear whether that would require more disclosure than the university already makes). And the legislation would make public the names of people and companies donating to the foundation – unless the donor requests secrecy. If that bill passes, it will be particularly interesting to see how the foundation implements that provision.