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Three employees fired from Naropa Univeristy in wake of embezzlement scandal

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The Boulder Daily Camera reports that Naropa University has fired an employee after discovering $450,000 had been embezzled over the past two years.  In addition, the school’s chief financial officer and comptroller were fired for failure to establish proper controls.

Naropa is a small, Buddhist-based university in Boulder with a combined enrollment of around 2000 students.  University President Stuart Lord said that finances will not be affected for students as a result of the embezzlement.  A perusal of the school’s tuition and fees however, shows significant increases from the 2008-09 academic year to the 2009-10 as indicated in the table below.

The total cost for a full-time student living on campus rose by $3394 or 10.1%.  In contrast, the University of Colorado at Boulder saw an increase of only 6.4% over the same period.  

According to the University’s self-study, (see page 48), Naropa relied on tuition for 92% of its total revenue for the 2009-10 academic year.  This compares with an average of 60-70% for comparable institutions.  

Although President Lord indicated that student finances are not affected, it is curious that tuition rose steeply at a school where tuition constitutes a disproportionate percentage of revenues during the period when the money was embezzled.

Comments

  • tentative 4 years ago

    This seems very speculative. Looks clever, but there are a whole lot of possible other factors in tuition increases. Many people in the media these days make conjectures based on a desired juicy outcome...

  • Marshall Wilson 4 years ago

    Agreed. The inferred "curiosity" is in the mind of Greg Young, and cannot, given the known details, be generically construed. More information is needed before suggesting a correlation.

  • Angel 4 years ago

    Naropa is a sick place. Many egregious acts continue to go on unnoticed and unrectified to their blind following.