Statement from President Ramsey on the Proposed Resolution:

While I appreciate the recognition by selected Trustees of the myriad of challenges we faced
while significantly enhancing the academic trajectory and profile of the University of Louisville
during a period of declining state support for higher educationI do not believe splitting the
presidencies of the University and Foundation are in the institutions best interests.
First, it comes at the very time that State Auditor Harmon has appropriately agreed to examine
best practices for foundations attached to Kentuckys public universities. We look forward to the
results of this process. My position is that we ought to let the state auditor do his work before
making rash decisions that could negatively impact this university forever, particularly since so
many trustees have asked for this review. It just isnt prudent to put the universitys financial
position at risk without letting Auditor Harmon do his important work.
Second, this proposal clearly states that if it passes it will have severe financial ramifications
for the University of Louisville. For that reason alone our energies and resources should be spent
on moving the University in a direction that would not have negative financial ramifications.
The University of Louisville Foundation is an essential tool in meeting our statutory mandate and
has become key to our ability to weather the global financial circumstances that have reduced U
of Ls state appropriation. Separating the two roles would lead to competition between the
University and Foundation, undermining the strategy of placing the university under a fiscal
dome of protection from a tumultuous time for the state budget. The purpose is to protect access
to higher education for the entire community and the current model fosters that worthy goal; this
resolution could lead to higher education restricted only for the privileged and that is simply not
acceptable.
The proposed resolution would also lead to increased administrative overhead at the Foundation,
which presently carries administrative costs of less than two percent. A new Foundation
president and all of the staff and accoutrements that would come with it would put less donor
money toward our mission, and that is something that I strongly oppose.
Over the last 13 years, the University and the Foundation have worked together hand in glove to
achieve incredible results. This positive journey we are on is borne out by facts and data.
Our average freshman ACT score was 23.2; today it is 25.5. Our six-year graduation rate was 33
percent in 2002; today it is 53.6 percent. We awarded 1,849 bachelors degrees in 2002; in 2015,
we have awarded 2,832. And we awarded 172 Ph.D.s this year, up from just 90 in 2002. The
university is changing the complexion of our communitys workforce, which enables our region
to recruit more employers and to increase economic opportunity for the citizens in our
metropolitan area and the Commonwealth.
All of these gains were made in the face of a diminishing state appropriation for higher education
during the worst economic downturn since the Great Depression. The proposed resolution, which
claims undefined benefits from its passage, will remove a critical tool we use to meet our
statutory mandate. So lets be prudent and support State Auditor Harmons thoughtful review of
best practices before arbitrarily addressing an action that would likely have harmful unintended
consequences that most of our Trustees do not want.