New chief financial officer named at OSU

A week after the release of a scathing audit that found millions of dollars of misappropriated funds, Oklahoma State University’s interim president named a new chief financial officer Tuesday. 

Chris Kuwitzky will serve as OSU’s senior vice president and chief financial and administrative officer for the university system, effective Monday. His salary was not provided Tuesday afternoon. 

Kuwitzky most recently worked at Langston University where he served as the school’s CFO beginning September 2023. He previously spent 31 years working at OSU in the school’s financial department. 

“I’m honored to join Oklahoma State University during this important time,” Kuwitzky said in a statement. “I look forward to working with President Hess and the OSU team to ensure strong fiscal management that supports the university’s land-grant mission and strategic priorities while keeping students at the center of our decision-making.”

Following the abrupt resignation of former OSU President Kayse Shrum in February, the university released Wednesday an audit that revealed $41 million in misappropriated legislatively appropriated funds during the time she was president. 

The audit found $11.5 million of the funds were wrongly sent to the Innovation Foundation, which aims to expand OSU’s footprint in aerospace and advanced mobility, energy and agriculture. The organization was a “crucial pillar” of Shrum’s strategic plan for the university. 

The university has not said the audit is the reason for Shrum’s departure and did not place blame on any specific individuals. 

The audit recommended the mismanaged funds be repaid to their intended source within the university. Interim President Jim Hess and Kuwitzky, as CFO, will be responsible for implementing the recommendations of the audit. 

On Monday, Hess announced the university would no longer fund the Innovation Foundation, according to The O’Colly, the campus news outlet, which first reported the news.

“As part of our work to address issues raised in the audit, we have made the difficult decision to discontinue funding for the The Innovation Foundation at OSU and the shared services and facilities positions within it,” Hess said in a statement to the publication. “This decision was necessary as the financial structure of The Innovation Foundation is simply not sustainable. We are working closely with affected employees to provide transition support during this challenging time.”

At OSU, Kuwitzky will oversee “all financial, budget and accounting operations, long-range planning, facilities management, parking and transportation services, the OSU Police Department and public safety, and human resources.”

He will continue providing “fiscal affairs support” to Langston University.

“Chris’s extensive background in higher education finance and his deep understanding of Oklahoma’s fiscal landscape make him an ideal addition to the OSU team,” Hess said in a statement. “His proven track record of sound financial management and strategic thinking will be invaluable as we continue to strengthen OSU’s financial foundation and enhance our service to students. Chris shares our commitment to putting students first in everything we do, ensuring our financial decisions support their success and experience.”

Erik Polak had been serving as OSU’s interim CFO since July, an OSU spokesperson said.