University of Massachusetts-Boston

capital spending plan in December 2014 and an error to a 5-year campus reserve ratio estimate were the cause of the $26 million in budget reductions implemented by interim Chancellor Barry Mills and that the reductions were made at the direction of the UMass Central Office.
Additionally, the white paper states that the 2017 audit was not conducted in accordance with Generally Accepted Government Auditing Standards or reported in accordance with auditing standards, and that the purchase of Mount Ida College in April 2018 was conducted by a wire transfer from the UMass System for $75 million without being included on the previously approved university capital plan at the time the UMass Central Office ordered the budget reductions rather than UMass Amherst purchasing the Mount Ida campus with loanable funds to be repaid with interest. The following month, interim Chancellor Katherine Newman issued a press statement disputing the findings of the white paper. In September 2019, the UMass Boston Faculty Staff Union …