Lawmakers raise concerns with ISU plane purchase
Of the foundations supporting Iowa's three public universities, only the Iowa State University Foundation reports purchasing a piece of equipment for more than $1 million and gifting that equipment to its university during the past five years.
The Des Moines Register asked the foundations for a list of such purchases after officials confirmed last week that the ISU Foundation bought a $2.4 million aircraft — a double-engine Beechcraft King Air — in 2014 and gifted it to ISU. That same year, the university spent $470,000, after trading in an older aircraft, to purchase a single-engine Cirrus SR22.
Officials with the Iowa Board of Regents said that because the $2.4 million plane was bought by the foundation, the purchase was not subject to a policy that requires universities to seek board approval for equipment purchases of more than $1 million.
"The Board of Regents does not approve any purchase made by foundations, and gifts of equipment from foundations do not require board approval," Josh Lehman, a spokesman for the board, said via email Thursday.
Read more: http://www.desmoinesregister.com/story/news/education/2016/09/29/lawmakers-raise-concerns-isu-plane-purchase/91182744/