| 14 July 2009
What the hell is up with the neighbors to the West? kU's had their share of problems this year, but then K-State decided they needed their athletic department to "lose" a shitload of money and one-up their Larryville rivals. According to the KC Star, KSU can't find any documentation of payments that were given to Bill Snyder and some other weasels.A 34-page audit released by the Kansas Board of Regents on Friday outlines years of questionable payments, potential conflicts of interest, poor accounting and possible tax problems for Kansas State University, several of its former employees and the athletic department.
The report — prepared by the Grant Thornton LLP accounting firm — details previously unknown payments of tens of thousands of dollars to separate companies owned by head football coach Bill Snyder, former athletic director Tim Weiser, and Bob Krause, former athletic director and former vice president for institutional advancement.
Auditors said they could not find documentation for 13 different payments, totaling $845,000, to Snyder, Weiser, Krause and others. It criticized a $500,000 athletic department loan to Weiser, who is now deputy commissioner of the Big 12 Conference. And it said that Kansas State's scholarship fund inside the university's foundation was overdrawn by $2.4 million in 2007.
That is a lot of Power Towels people! This is the same athletic department has been just a weeee bit sketchy with their funds in the past years, and Krause was the AD with the sketchy agreement with Prince! There's no way that he'd have something with Snyder, right? Right?
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