A California State University review found that the practices of a Fresno State nonprofit put it at risk of fraud, The Fresno Bee reported.

Operating as a nonprofit independent of the university, the Fresno State Foundation controls hundreds of millions of dollars for the campus, including scholarships and research funds.

According to the review, the foundation put those funds at risk by:

• Allowing “the same individual,” though unnamed, to prepare and approve multimillion-dollar wire transfers with the authority to revise vendor records
• Not including faculty with experience in research administration on its board

“With no faculty serving in any oversight capacity, we have no idea what they were doing,” Andrew Jones, president of the Fresno State chapter of the California Faculty Association, told The Bee.

Fresno State said in a statement on its website:

“As expected, the review did not identify any fraud, misappropriation of funds, or malfeasance. It did identify areas where governance, financial controls, and operational practices must be modernized. Addressing these findings is a top institutional priority, and work is already underway.”

To strengthen oversight, Fresno State President ​Saúl Jiménez-Sandoval, who requested the review, said the university and foundation will seek to revise the board’s makeup, among other actions.

The foundation will also address the findings and publicize a plan to do so, Executive Director Brady Crook said in an email to The Bee.

You can read Jiménez-Sandoval’s full statement at this link.

(GV Wire contributed to this report.)