FOR IMMEDIATE RELEASE 03/12/2013
Transparency Committee holds hearing on UT Law School Foundation
AUSTIN - The Texas House Select Committee on Transparency in State Agency Operations met for a public hearing this afternoon, focusing on transparency in Texas and at the University of Texas Law School and its Foundation specifically.
The Committee heard from two witnesses associated with the University of Texas Law School: Dean Ward Farnsworth and Foundation Trustee's President John H. Massey. During their joint testimony, it was revealed that the Foundation had disbursed over $5M through a forgivable loan program for faculty. This includes over $2M still pending.
"I believe our state's institutions of higher learning should be held to a higher standard. As stewards of the taxpayer money, our state schools should be transparent in how they operate and compensate state employees, which include faculty members," added Flynn.
The Committee also heard from the Office of the Comptroller of Public Accounts. During his testimony, the representative from the Comptroller's office discussed executive compensation in Texas government and the oversight process for taxpayer resources.
"Today's hearing brought to light several key issues for the Committee, including the way state trust funds are overseen. The hearing also raised questions over how the state compensates its agency leaders. As a taxpayer and as a legislator, I will not allow the state to operate with a lack of transparency, accountability and oversight. We will continue to chart an aggressive course ahead for the Committee and to bring to light important issues for Texans," concluded Flynn.
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