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New Mexico AG Sues University Over $2 Million 'Golden Parachute' Payment to Outgoing President

2025-01-09

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New Mexico AG Sues University Over $2 Million 'Golden Parachute' Payment to Outgoing President

In a bid to hold educational institutions accountable for their financial dealings, New Mexico's attorney general has filed a lawsuit against Western New Mexico University's regents and its outgoing president. The lawsuit aims to overturn a contentious severance package worth nearly $2 million, which was approved following a damning report that exposed rampant wasteful spending and a lack of financial oversight at the university. This move is part of a broader effort to promote transparency and fiscal responsibility in higher education, particularly in cases where taxpayer dollars are involved. The issue of 'golden parachute' payments to university executives has sparked debate nationwide, with many calling for greater accountability and more prudent use of public funds. As the lawsuit unfolds, it will be interesting to see how it impacts the wider discussion on educational governance and financial management, including the role of procurement management and budgeting best practices. With the attorney general's office pushing for reform, this case could set a precedent for how universities handle executive compensation and severance packages in the future, highlighting the importance of financial oversight and accountability in education. ...undefined