New State Law Focuses on UB Foundation(s)
by Buck Quigley - posted 10:48 am, July 1, 2011
With all the back-slapping going on about passage of the NYSUNY 2020 bill, and how raising student tuition and fees is going to enable UB to move its medical school four miles down main street from the south campus to the Buffalo-Niagara medical campus, I can’t find a single media outlet* reporting on this particular section of the new law:
6-A. THE STATE UNIVERSITY TRUSTEES SHALL ADOPT GUIDELINES FOR FOUNDATIONS OF STATE-OPERATED CAMPUSES THAT REQUIRE EACH FOUNDATION TO ADOPT A CONFLICT OF INTEREST POLICY APPLICABLE TO SUCH FOUNDATION AND ITS AFFILIATED CORPORATIONS. AMONG OTHER ITEMS, THE STATE UNIVERSITY TRUSTEES’ GUIDELINES SHALL REQUIRE SUCH FOUNDATION POLICIES TO PROVIDE: (A) THAT SERVICE AS A BOARD MEMBER OR OFFICER THEREOF SHALL NOT BE USED AS A MEANS FOR PRIVATE BENEFIT OR INUREMENT FOR THE BOARD MEMBER OR OFFICER, A RELATIVE THEREOF, OR ANY ENTITY IN WHICH THE BOARD MEMBER OR OFFICER,OR RELATIVE THEREOF, HAS A BUSINESS INTEREST; (B) NO BOARD MEMBER OR OFFICER WHO IS A VENDOR OF GOODS OR SERVICES TO THE FOUNDATION OR ITS AFFILIATED CORPORATION, OR WHO HAS A BUSINESS INTEREST IN SUCH VENDOR, OR WHOSE RELATIVE HAS A BUSINESS INTEREST IN SUCH VENDOR, SHALL VOTE ON, OR PARTICIPATE IN THE FOUNDATION’S ADMINISTRATION OF, ANY TRANSACTION WITH SUCH VENDOR; AND (C) A BOARD MEMBER OR OFFICER SHALL ADVISE THE CHAIR OF THE FOUNDATION OR ITS AFFILIATED CORPORATION OF HIS OR A RELATIVE’S BUSINESS INTEREST IN ANY SUCH EXISTING OR PROPOSED VENDOR WITH THE FOUNDATION OR ITS AFFILIATE. THE STATE UNIVERSITY TRUSTEES’ GUIDELINES SHALL DEFINE THE NATURE OF A BUSINESS INTEREST AND THE CLOSENESS OF A PERSONAL RELATION THAT BRING A RELATIONSHIP WITHIN THE PURPOSES OF THIS SUBDIVISION.
Just imagine the amount of paperwork the myriad UB Foundations and affiliates will have to file in order to catalog all the conflicts of interest among the various administrators, developers, lawyers, and doctor/entrepreneurs on this publicly-funded gravy train.
I can’t wait to hear all the dirt I’m gonna get from my informants on staff at the Buffalo Club!
*Except for Artvoice. Read Geoff Kelly’s interview with Mark Grisanti in this week’s issue.