In the aftermath of a scathing audit revealing financial mismanagement, Sacramento State University has announced that Capital Public Radio, or CapRadio, is expected to run out of financial resources by January 2024. Sac State President Luke Wood has appointed Jonathan Bowman, the University’s Vice President for Administration and Business Affairs and CFO, to oversee the beleaguered radio station’s operations.
The audit, initiated by former Sac State President Robert Nelsen, highlighted a slew of issues, including unpaid rent, potentially inaccurate annual audits, and lax control over employee credit cards. The financial debacle has led to a staff reduction of 12% at CapRadio, which operates several stations including KXJZ and KXPR, as well as a network of repeater stations.
Bowman had noticed financial inconsistencies in CapRadio’s operations last year, prompting the audit. His team took control of the radio station’s finances in August. The University maintains that despite these changes, CapRadio’s news operations will remain editorially independent.
