Board of Regents Takes New Action To Terminate Cooperative Agreement With UGA Foundation
Atlanta — April 20, 2005
The Board of Regents today instructed University of Georgia President Michael Adams to issue a letter to the executive committee of the University of Georgia Foundation terminating the University’s relationship with the Foundation.
Board of Regents’ Policy 1905 provides the authority for this action.
Board of Regents Chair Joel Wooten issued the announcement of the board’s action today, at the conclusion of the Board of Regents two-day meeting, held at Armstrong Atlantic State University, in Savannah.
“We were hopeful, particularly after the similar action we had to take 11 months ago, that such a step would not have been necessary,” Wooten stated. “We had expected that a new relationship – more positive and more cooperative, as promised by the Foundation’s leadership at that time – would have developed since we last took this step. Unfortunately, that has not been the case, and the Board of Regents felt that it would be in the best interest of both the institution and the University System to take this action today.”
As this action removes the recognition of the UGA Foundation as a cooperative organization of the Board of Regents, the board also directed UGA officials to seek a replacement cooperative organization as soon as possible.