The latest news is that 18 of 23 board members of a public/college radio station have resigned following news that the radio station had significant financial mismanagement occur. It is possible the station will be out of money by January 2024.
It's clear that a board has failed and folks are jumping ship I am sure hoping to relieve themselves of any culpability. Reality: this happened on their watch and jumping ship because they didn't ask the right questions or didn't believe the answers or whatever does not make them free of culpability. Kudos to the brave few who remain, There is much to be said for those who recognize that jumping ship does not correct the future and at minimum, the obligation, I believe, is to right the wrong. And yet....
Here's the story:
Four more members of CapRadio's board of directors have resigned amid continued financial issues with the nonprofit radio station, officials announced Wednesday.
That brings the number to 18 out of 23 members who resigned since an audit from Sacramento State revealed severe financial mismanagement. including the risk of the radio station running out of money by January. CapRadio is licensed to Sac State.
Among the four members included Nataly Andrade-Dominguez, the university's student body president, who made calls for the board of directors to resign. Andrade-Dominguez was the only remaining voting director who represented Sac State. She joined the board summer of 2023.
Sac State said it does not expect other board members to resign.
After the audit, the university appointed Chief Financial Officer Jonathan Bowman as a CapRadio administrator to provide operational and financial oversight. Because CapRadio is an auxiliary of Sac State, it cannot file for bankruptcy, and the school would ultimately be responsible for the debt.
The university also said an interim general manager has been overseeing CapRadio's news and music programming. That interim manager, Tom Karlo, serves as an ex officio member.
CapRadio and Sac State were in disagreement with each other in early October after the radio station wanted to hire a general manager, whose salary would be more than $300,000 plus benefits. But Sac State said the radio station cannot afford that salary and is refusing to fund the new hire. Regardless, the board members at the time voted to move forward with the hire.
While the university has assumed operational control of the station, CapRadio's news team and programming remain independent.
Sac State said more changes are expected from both the recommendations made in the audit and an examination into the underlying cause for CapRadio's mismanagement.