AP: CUNY calls for probe of City College

[Tom Foty]

http://www.crainsnewyork.com/article/20161010/NONPROFITS/161019996/cuny-calls-for-probe-of-city-college-after-president-quits

CUNY calls for probe of City College after president quits

Board chairman William Thompson Jr. sent a letter to the state inspector general after the resignation of Lisa Coico

By Associated Press


The City University of New York has asked for a state investigation following the departure of the president of City College.

The Wall Street Journal reports that CUNY board chairman William Thompson Jr. has sent a letter to New York's inspector general.

Lisa Coico resigned Friday after university officials were approached by the New York Times regarding more than $150,000 that was directed toward personal expenses.

According to CUNY, the U.S. attorney in Brooklyn has been investigating whether Coico misused funds from a nonprofit affiliated with the university.

Coico was told by a lawyer for the university to return funds taken from 21st Century Foundation, according to Thompson’s letter. The college later “discovered that in fact she did not return all the funds, despite her representations to the contrary,” Thompson said.

Coico has denied wrongdoing.

Thompson wants the state review to include CUNY's use of foundations. He says each school has its own foundation, a "very broad" definition of eligible expenses, and "very few apparent controls."

“This matter raises concerns with respect to the relationships not only between City College and its affiliated foundation but more generally between all CUNY colleges and all such entities,” he wrote in the letter.

Crain's New York Business contributed to this article.