UVM officer resigns in wake of problems with financial services contracts

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(Host) The chief financial officer at the University of Vermont is resigning in the wake of what the university describes as problems with financial services contracts.

A University spokesman says Vice President J. Michael Gower is resigning.

That’s because the university entered into contracts worth five million dollars.

But the spending was not approved by President Daniel Fogel or the board of trustees.

UVM requires that spending for anything worth more than $250,000 must have approval by Fogel and trustees.

A spokesperson says there’s no indication that any laws were broken. The contract was for a management information system with Huron Consulting Group.


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