Consent Decree Update
Written by Robert Tan AR’81, Alumni Trustee and Free Education Committee Chair
Pursuant to the Consent Decree in July 2016, the New York State Attorney General appointed Kroll Associates, Inc. to serve as the Financial Monitor. The Financial Monitor attends all board meetings, and all meetings of the Finance and Business Affairs Committee and the Free Education Committee (FEC), and may attend other committee meetings at its discretion.
Under the Consent Decree, the Financial Monitor is to prepare and provide to the Cooper Union Board of Trustees and the NYS Attorney General a annual report summarizing the financial condition of Cooper Union. The annual report is to include a separate section providing its analysis and opinion regarding matters discussed in the FEC ’s progress reports and the feasibility of the strategic plan presented by the FEC, including its opinion as to the practicality of Cooper Union returning to a full tuition scholarship model that maintains The Cooper Union’s strong reputation for academic quality within its art, architecture and engineering programs at their historical levels of enrollment.
Links to earlier Consent Decree Announcements
12/2015 Campus Notice – Court Approves Consent Decree
09/2015 Consent Decree between NYS Attorney General, The Cooper Union, and Committee to Save Cooper Union