(FOX40.COM) — Sacramento State’s chief financial officer has been appointed to oversee CapRadio after an internal analysis found that the radio station may not have financial resources by January 2024.
According to a news release from the university, Jonathan Bowman was appointed by President Luke Wood to be the administrator in charge of CapRadio. Bowman also serves as Sacramento State’s vice president for administration and business affairs.
The radio station is an auxiliary of the university, and the campus administration is taking on a larger role in its operations after a recent audit revealed financial and management issues.
CapRadio can’t file for bankruptcy due to it being a nonprofit auxiliary for the university, leaving Sacramento State responsible for its debt.
“I am a believer in public broadcasting and am committed to public media and to seeing CapRadio through this difficult time,” Bowman said in the release. “I look forward to collaborating with interim General Manager Tom Karlo and CapRadio to address the issues identified in the audit, restore public trust in the station, create sound financial practices and develop a new operating agreement with the University.”
“I also believe strongly in preserving CapRadio’s journalistic and programming independence, which has made it a leading source of news in Northern California,” Bowman continued.
According to the university, Bowman is credited with identifying inconsistencies in CapRadio’s finances in 2021 that led to Sacramento State requesting an audit from California State University.
Bowman was appointed to the CapRadio board by then-President Robert Nelsen in early 2023. A finance and accounting team led by Bowman assumed day-to-day financial operations at CapRadio in August.
“I want to thank President Nelsen for requesting the audit last year, adding Sac State’s chief financial officer to the CapRadio board, and for committing the resources necessary to stabilize the station’s operations,” Wood said.