Post by Logan on Jun 3, 2016 21:28:43 GMT -6
Outgoing Kennesaw State chief Papp broke financial rules, audit finds
Outgoing Kennesaw State University president Dan Papp violated state University System compensation policies involving deferred compensation, annual leave payouts and car allowances during his time leading the institution, according to a report released Friday.
The executive compensation review, conducted by auditors in the University System of Georgia, comes three weeks after Papp’s abrupt announcement that he was retiring from KSU at the end of this month.
The report details more than $577,000 in deferred compensation that Papp received from Kennesaw State’s foundation during his time at the school. The payments violated system policies that require deferred compensation to be paid out when a president leaves the system, such as through retirement or resignation for another job, or in cases of death or disability, and at the discretion of the Board of Regents or system chancellor.
The report found that Papp also received almost $14,000 more in annual leave than he was entitled to when he transferred between various positions within the university system. Papp has since paid back that money.
Read more: www.ajc.com/news/news/local-education/departing-ksu-chief-dan-papp-broke-financial-rules/nrZQG/?ref=cbTopWidget
Outgoing Kennesaw State University president Dan Papp violated state University System compensation policies involving deferred compensation, annual leave payouts and car allowances during his time leading the institution, according to a report released Friday.
The executive compensation review, conducted by auditors in the University System of Georgia, comes three weeks after Papp’s abrupt announcement that he was retiring from KSU at the end of this month.
The report details more than $577,000 in deferred compensation that Papp received from Kennesaw State’s foundation during his time at the school. The payments violated system policies that require deferred compensation to be paid out when a president leaves the system, such as through retirement or resignation for another job, or in cases of death or disability, and at the discretion of the Board of Regents or system chancellor.
The report found that Papp also received almost $14,000 more in annual leave than he was entitled to when he transferred between various positions within the university system. Papp has since paid back that money.
Read more: www.ajc.com/news/news/local-education/departing-ksu-chief-dan-papp-broke-financial-rules/nrZQG/?ref=cbTopWidget