Regents to release audit of accounts controlled or accessible to FUPJW:

[sonofdaxjones]

http://www.kansasregents.org/download/news/061909%20-%20Press%20Release%20-%20KSU%20Exit%20Analysis.pdf

 

[sonofdaxjones]

http://www.themercury.com/dyn-file/12c70d829d314612aac8a22fb68cdc3f/KSU%20audit.pdf

[catzacker]

sweet jesus.

Mr. Krause’s involvement in the Athletics Department was more than cursory. During the period
under review, Mr. Krause participated in contract and compensation negotiations for head coaches
and Athletics Director Tim Weiser, often being the only signatory to the contract on behalf of the
Athletics Department or University as the Vice President for Institutional Advancement and/or the
sole member of the Athletics Director Compensation Committee.

In Pursuit of Perfection is going to be rich.

[catzacker]

jfc, that thing is a goldmine.

For instance, Mr. Weiser received his additional
compensation through an entity named “The Weiser Way.” Mr. Wooldridge received his additional
compensation through an entity named “Pershing.” Mr. Snyder received his additional compensation
through an entity named “SSM, Inc.” and Mr. Krause, at times, received his through an entity named
“Horizon Ranch.”

lollers.  The Weiser Way.

[stormnut]

http://www.kansasregents.org/download/news/061909%20-%20Press%20Release%20-%20KSU%20Exit%20Analysis.pdf

 

You are now complete. 

[kougar24]

jfc, that thing is a goldmine.

For instance, Mr. Weiser received his additional
compensation through an entity named “The Weiser Way.” Mr. Wooldridge received his additional
compensation through an entity named “Pershing.” Mr. Snyder received his additional compensation
through an entity named “SSM, Inc.” and Mr. Krause, at times, received his through an entity named
“Horizon Ranch.”

lollers.  The Weiser Way.

"Pershing"? 

[sonofdaxjones]

Loved the $500K loan to Weiser only signed off on by Krause.  

God what a bunch of douchebags.

No entity of the nature of KSU IAC should be giving anyone a loan, without a full "run though" of all needed oversight parties.

The rest of the stuff doesn't shock me at all based on how I had heard Weefer was running the school as if he were king.  

Besides the loan, the only thing that pisses me off is the ridiculous overload payments . . . if Krause wanted to run around and play pretend AD, than he could do it on his own dime.   Krause should not have been paid one more dime for any consulting to athletics, and neither he, nor Weefer should have ever been given a dime by athletics to go into their "discretionary" spending accounts.   That's BS.

I hope Weiser enjoys the IRS audit.

[sonofdaxjones]

sweet jesus.

Mr. Krause’s involvement in the Athletics Department was more than cursory. During the period
under review, Mr. Krause participated in contract and compensation negotiations for head coaches
and Athletics Director Tim Weiser, often being the only signatory to the contract on behalf of the
Athletics Department or University as the Vice President for Institutional Advancement and/or the
sole member of the Athletics Director Compensation Committee.

In Pursuit of Perfection is going to be rich.

Yep . . . as far as the audit says, it was absolutely within precedence for Krause to be the only signatory on contracts.   Once Prince and company pull out that little tidbit, K-State won't have a leg to stand on in their lawsuit.  

Spend that $3.2 million dollars well IPP.

[kougar24]

The rest of the stuff doesn't shock me at all based on how I had heard Weefer was running the school as if he were king.

Weefdoms...er, Fiefdoms...have lords, not kings.

[sonofdaxjones]

The rest of the stuff doesn't shock me at all based on how I had heard Weefer was running the school as if he were king.

Weefdoms...er, Fiefdoms...have lords, not kings.

True

[Ben Ji 2.0]

 

[catzacker]

sweet jesus.

Mr. Krause’s involvement in the Athletics Department was more than cursory. During the period
under review, Mr. Krause participated in contract and compensation negotiations for head coaches
and Athletics Director Tim Weiser, often being the only signatory to the contract on behalf of the
Athletics Department or University as the Vice President for Institutional Advancement and/or the
sole member of the Athletics Director Compensation Committee.

In Pursuit of Perfection is going to be rich.

Yep . . . as far as the audit says, it was absolutely within precedence for Krause to be the only signatory on contracts.   Once Prince and company pull out that little tidbit, K-State won't have a leg to stand on in their lawsuit.  

Spend that $3.2 million dollars well IPP.

I bet Ron's lawyer's are just laughing their asses off.  Grant Thornton should get a cut of that check.

[CaptainCrap]

[sonofdaxjones]

sweet jesus.

Mr. Krause’s involvement in the Athletics Department was more than cursory. During the period
under review, Mr. Krause participated in contract and compensation negotiations for head coaches
and Athletics Director Tim Weiser, often being the only signatory to the contract on behalf of the
Athletics Department or University as the Vice President for Institutional Advancement and/or the
sole member of the Athletics Director Compensation Committee.

In Pursuit of Perfection is going to be rich.

Yep . . . as far as the audit says, it was absolutely within precedence for Krause to be the only signatory on contracts.   Once Prince and company pull out that little tidbit, K-State won't have a leg to stand on in their lawsuit.  

Spend that $3.2 million dollars well IPP.

I bet Ron's lawyer's are just laughing their asses off.  Grant Thornton should get a cut of that check.

The only hope for KSU is if they can show that some of these "sole signatory" deals were done when Krause was VPIA, and thus was authorized to do so.  Then IPP counters that they knew Krause was running around all over the place making "deals" on behalf of K-State so why would they for one second believe or question that Bob Krause wasn't authorized to make the deal with them.   Even if it gets settled out of court this disclosure alone probably pumps that settlement up another $500K.

[sonofdaxjones]

Oh and one more thing.

For all you "Weiser was great" tards, particularly the powertards that lurk on this board who constantly say that.

Eat a dick.

The guy was a sleaze bucket, who now has millions of dollars of K-State's money in his pocket.

[CaptainCrap]

Oh and one more thing.

For all you "Weiser was great" tards, particularly the powertards that lurk on this board who constantly say that.

Eat a dick.

The guy was a sleaze bucket, who now has millions of dollars of K-State's money in his pocket.

Everything is relative, I guess. Of the two, TW is not the former AD I would label a sleaze bucket. I guess the question is, which is worse, benefiting from shady $$ deals, or thinking up and carrying out shady $$ deals? Hopefully ADJC can recognize the areas that TW was good at, however few of them there may or may not be, and then pull a Costanza and do the opposite of whatever BK was doing. If he can do that, and bring his own skillz to the table, we have a chance to take a step forward.

But this audit is basically what many folks on campus and in the AD knew for years...

[BeaumontCat1%]

The only hope for KSU is if they can show that some of these "sole signatory" deals were done when Krause was VPIA, and thus was authorized to do so.  Then IPP counters that they knew Krause was running around all over the place making "deals" on behalf of K-State so why would they for one second believe or question that Bob Krause wasn't authorized to make the deal with them.   Even if it gets settled out of court this disclosure alone probably pumps that settlement up another $500K.

I think the IAC was the only party to the IPP MOU (KSU was not a party) so Krause's position as KSUAD should be more than sufficient authority to sign the MOU on behalf of the IAC.  Krause also signed Prince's extension on behalf of the IAC.  Lack of authority is an obvious loser.

After reading the report, my impression is that this is the likely kind of stuff that goes on at nearly every university, so the good ol' boys can get rich and to side-step open-records laws, but KSU just had a bunch of stupid amatures running the show.

How much will the back taxes and penalties be?     Weiser is going to need another loan.


 

[Sandman]

Kind of surprised to see Snyder involved in all of this as well.  Makes you wonder what the next shoe to drop will be.

[sonofdaxjones]

Oh and one more thing.

For all you "Weiser was great" tards, particularly the powertards that lurk on this board who constantly say that.

Eat a dick.

The guy was a sleaze bucket, who now has millions of dollars of K-State's money in his pocket.

Everything is relative, I guess. Of the two, TW is not the former AD I would label a sleaze bucket. I guess the question is, which is worse, benefiting from shady $$ deals, or thinking up and carrying out shady $$ deals? Hopefully ADJC can recognize the areas that TW was good at, however few of them there may or may not be, and then pull a Costanza and do the opposite of whatever BK was doing. If he can do that, and bring his own skillz to the table, we have a chance to take a step forward.

But this audit is basically what many folks on campus and in the AD knew for years...

Sorry, when you're in charge of an entity like KSU IAC and then you arrange by whatever means a "don't ask any questions" $500K loans . . . you're a sleazeball.

[GoldbrickGangBoss]

 

[Pike]

IDK if i should devote all my EMAW to the cats, or if I should put it all towards hating Weefs and Krause

[Sandman]

IDK if i should devote all my EMAW to the cats, or if I should put it all towards hating Weefs and Krause

Why leave out Snyder as well?  Seems he was very aware of all of this and benefitted as well.

[MadCat]

IDK if i should devote all my EMAW to the cats, or if I should put it all towards hating Weefs and Krause

Why leave out Snyder as well?  Seems he was very aware of all of this and benefitted as well.

[Kat Kid]

Best footnote?

Grand Mere Development is the luxury residential/commercial development surrounding the Golf Course. Grand
Mere Development is owned by members of the Vanier family. The Vanier family are significant supporters of the
University and the Athletics Department and are the in-laws of Mr. Krause. Mr. Krause stated that he and his wife do
not have any financial ownership or interest in Grand Mere Development.

[Kat Kid]

Line by line fun:

Mr. Krause indicated that the $20,000 per year paid by the Athletics Department was to reimburse the Golf Course for the golf teams’ use of the locker area and indoor practice facilities.

Hmmmm...Ok seems weird, but $20,000 who the f cares, amiright?

However, the practice facilities appear to be available to the golf teams without charge per the Operating Lease and $20,000 a year for the use of the locker area could be seen by some as questionable.

Seriously?  Just punch me in the face.

Mr. Krause, the current Athletics Director, serves as the Assistant Treasurer of KSUGCMRF and has check approval and signatory authority.

Hey Ron.  I'd say this is Exhibit F in your IPP defense.  By September does Ron Prince just outright &@#%ing own Tidewater?

[Kat Kid]

Seems like Colbert Hills under the direction of one Bob Krause (Athletics Director, Assistant Treasurer of KSUGCMRF with check approval and signatory authority) was "left in great shape."

Of the cash disbursements selected for testing, only 60% had a payment request in the form of a formal memo or informal notation, and only 7% had any notation that could be considered an “approval.” Copies of checks were attached to only 9% of the cash disbursement packets tested. We noted disbursements paid to Mr. Haney for reimbursement of expenses were not approved. We also noted disbursements for “Cash” totaling $4,000, but most did not have evidence of approval.

[Kat Kid]

Bob Krause does not give 100% effort.  Bob Krause does not give 101% effort.  Bob mother&@#%ing Krause gives 100 + 5% effort!  At least in 2007.

3 In fiscal year 2007, Mr. Krause was a 15% employee of NISTAC/MTM per his contract with those entities and a 90%
employee with the University as Vice President for Institutional Advancement. His total contracted time totaled 105%.

4 NISTAC declined to identify other “Angel Investors” due to confidentiality concerns. However, it was verbally
indicated that only Dr. Wefald and Mr. Krause were the only “Angel Investors” that were employed by the University or
any of its affiliates.

Weefy/Krause.  Our little Angels.

[Kat Kid]

Sweet Christ.

Per Mr. Cavello, the purpose of the Imprest Account was to provide funds in cases where payment was
needed sooner than the 10 day processing period for payments going through the Bank 14 account. He
indicated that payments through the Imprest Account (also known as the “Contingency Fund”) were for staff
and team travel. Our analysis has shown that approximately $1,400,000 in annual disbursements flowed
through the Imprest Account during Fiscal Years 2003 through 2005 and approximately $2,000,000 in annual
disbursements during Fiscal Years 2006 through 2008.

Ok, team travel.  Makes sense.  No probs.

While approximately 95% of these disbursements were for travel-related payments and reimbursements,

That's like an A, right?

...we found a number of contract payments to the personal corporations of Mr. Weiser, Mr. Snyder and Mr.
Krause for compensation in excess of their base salary. The majority of such payments were made through
the Bank 14 account maintained by the University Controller’s office. It is not clear why contract payments
would be made through the Imprest Account as they do not relate to travel. As with other payments to
employees’ personal corporations, the supporting documentation was minimal, usually consisting of an email
from Mr. Cavello to Ms. Christy Scott directing that a payment be made.

Seriously?

We obtained a file memo dated July 28, 2005 from Ms. Christy Scott which memorialized one such payment to Mr. Weiser’s personal corporation
and stated “For confidentiality reasons, the check will be written from the Imprest account…” Our analysis
of Mr. Weiser’s compensation showed that the amount paid represented payments due him under his 2005
contract and it is unclear why this particular payment required confidentiality, or from whom.

I'm no tax lawyer, but wouldn't this be for purposes of money laundering/tax evasion?

Garth should ask for his Cabela's gift certificate back. 

[Kat Kid]

The following fringe benefits were also noted: country club membership,founder privilege at Colbert Hills, the use of football facilities for football camps, football suite as long as he lives in the Manhattan, Kansas area, home football game tickets, home basketball game tickets, two courtesy
vehicles, undergraduate education expenses for his daughters, and a guaranteed 5-year contract extension as
Associate Athletics Director for his son after Coach Snyder’s departure.

You know what?

&@#% you Snyder.

&@#% your daughter's free undergrad education despite your ridic salary.
&@#% your Fredo ass free-riding son.
&@#% your &@#%ing name on OUR &@#%ing stadium.
Why don't we add the &@#%ING ENTIRE EQUESTRIAN PROGRAM AS A GODDAMN &@#%ING FRINGE BENEFIT?  WHAT WOULD THE TOTALS BE APPROACHING THEN?

We are increasing tuition rates.  We are increasing student fees.  We are forcing professors to go on furlough.  We are closing down offices and departments throughout campus during summer months and BOB KRAUSE is receiving preferred stock options, excess payments to his LLC and yanking random funds from other ACADEMIC SIDE INSTITUTIONAL FUNDS to add to his &@#%ing "Discretionary SLUSH FUND"

&@#% YOU ALL!

[Kat Kid]

JONATHON BEASLEY HAS A FREAKING BUYOUT?