Fallout: SUNY RF Losses

SUNY RF writes down $57 million of losses.

Ref: http://www.timesunion.com/7day-business/article/Research-Foundation-wrote-off-57-million-in-SUNY-11173316.php




Who is responsible for these losses?  SUNY Poly or SUNY RF?

"Policy

Each campus or other designated operating location is responsible for losses on any 
Research Foundation activity incurred as a result of action or inaction on the part of that location.
 Losses may be charged against annual location
 sponsored program income, location reserves, or other sources of funds available to the location.

The central office is responsible for any losses incurred by the Research Foundation
 not attributable to anyaction/inaction on the part of the campuses or other designated operating 
locations. Any such loss will be charged against corporate reserves."

Ref:  https://www.rfsuny.org/media/RFSUNY/Policies/ae_responsibility-losses_pol.htm