Bunsis was unable to access a number of documents and data points that are available for every other university he has analyzed, so the report is not as complete as it should be for a public institution.
Because Bunsis included newly available financial information and addressed the COVID-19 crisis in his presentation, we are hoping to raise additional money to pay him for his time and work on his updated slides.
The full video of his presentation is embedded below and linked here .
We've secured a date and time for Professor Bunsis' presentation: Friday, September 18, 3PM.
We are still working to cover his presentation fee ($1500), and we are just a little short. Can you chip in a few dollars to help us reach our goal?
Please join us on Zoom for his presentation and Q&A either way!
Meeting ID: [phone redacted] 7090
We did it! We funded Prof. Bunsis’ report, and now we have it. You can read our Executive Summary and the full report on our website.
Now, we’re working to bring Prof. Bunsis to UB to discuss his report and the transparency issues that kept him from completing the analysis in the same way he was able for every other university he has ever analyzed.
As before, we need to cover GoFundMe’s fees, and we’re looking to pay for Prof. Bunsis’ transportation and lodging to give his report.
Any help, monetary or in spreading the word, would be greatly appreciated.
We are asking members of the UB community to contribute to the cost of hiring an independent expert, Howard Bunsis, to conduct a financial analysis of the University at Buffalo. Dr. Bunsis is a Professor of Accounting at the College of Business at Eastern Michigan University. He holds a law degree from Fordham University, an MBA from the University of Chicago, and a PhD from the University of Chicago. He has conducted financial audits of dozens of universities, including a recent audit of Stony Brook University.
Professor Bunsis was hired by members of the Stony Brook University community concerned about administration claims of financial difficulty and the lack of sufficient information in budget presentations to verify these claims. Bunsis's financial analysis of Stony Brook found that, contrary to administrators' claims, the University is in solid financial condition. Specifically, the report concluded that Stony Brook had an average 10-year excess cash flow of $130 million annually, $420 million in unrestricted cash reserves and a Aa3 bond rating on the Moody's scale (the fourth best rating on a scale of 20 possible ratings). The full report and executive summary are available to read.
Professor Bunsis has agreed to conduct a similar analysis of UB for a $5000 fee. Given the lack of transparency in the budgetary process, we believe an independent audit of the University's finances is necessary.
All contributions will go directly to Dr. Bunsis's fee and the GoFundMe administrative fees. Our goal makes room for the 2.9% overall fee and the $0.30 per transaction fee.
You can read a story about the Stony Brook report in The Statesman .
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