BOCA RATON - An audit of Florida Atlantic University's fundraising arm has found that the foundation overstated the success of its capital campaign by more than $20-million.
The auditor, KPMG, also concluded the foundation's executive board did not formally approve giving former FAU president Anthony Catanese $42,000 for a new Corvette.
FAU president Frank Brogan attributed the fundraising overstatement mostly to accounting errors and said it showed the campaign raised $199-million, nearly twice its $100-million goal.
The review has helped spur tighter rules on foundation spending and accounting, Brogan said.
Former foundation director Carla Coleman faces a criminal charge of official misconduct for her role in the gift to Catanese last summer. The foundation is not supposed to use its money for noncharitable purposes and leaders never approved the gift, according to Wednesday's report.
Coleman arranged to channel the money through a decorating firm, cloaking it as a consulting fee for Catanese's wife.
