Forensic Examination Report of CapRadio Released by Sacramento State
Sacramento, CA – Aug. 5, 2024: Sacramento State today announced the release of an independent forensic examination report of Capital Public Radio (CapRadio). Sacramento State commissioned this examination after a CSU audit released in September 2023 uncovered significant financial discrepancies and organizational deficiencies at CapRadio.
Learn more and view the report at capradio.org/report.
“With the release of the independent forensic examination of CapRadio and the preceding Sept. 27 CSU audit, we are learning from the past and working to ensure proper governance and management of the station moving forward,” said Susan Catron, vice chair of the board of directors at CapRadio. “Indeed, this has been the primary focus of the new Board since day one. Today, CapRadio is not just standing firm again, but we’re building a better organization that is poised for continued success and impact in the future.”
Since the Sept. 27 CSU audit, CapRadio and Sacramento State have worked closely to implement internal controls and stabilize finances. The station is in a much better financial position and now has procedures in place to ensure effective donation management, oversight and accountability. CapRadio has also completed — or is on track to complete — all 42 recommendations from the Sept. 27 CSU audit.
“This has been a challenging journey for everyone at CapRadio — and everyone in the community who cares deeply about local public media,” said Frank Maranzino, interim president and general manager at CapRadio. “With the support of our community, CapRadio is in the midst of an inspiring turnaround story that includes stabilizing our finances and operations, improving and expanding audience services and significantly growing listenership and engagement. I want to express my immense gratitude to Sacramento State President Luke Wood and his team, past interim General Manager Tom Karlo, CapRadio staff and board, our members and everyone who has remained steadfast supporters of our public service mission.”
CapRadio has made a notable recovery over the past nine months when its financial hardships first came to light. CapRadio recently ended its fiscal year with a 9% increase in membership revenue and achieved a 35% increase in its weekly news listening audience. It is also one of the few public media stations that is currently hiring, bringing on three new reporters and a broadcast engineer over the last month as it continues to improve and expand important public services to the community.
“Since my arrival at Sac State, I’ve been committed to stabilizing CapRadio’s finances and operations to support its vital mission and future growth,” said Sacramento State President Luke Wood. “We swiftly implemented new fiscal controls and commissioned this examination to further uncover the roots of CapRadio’s fiscal issues. While the findings are deeply troubling, they guide us to ensure history doesn’t repeat itself. I’m proud of the station’s progress, thanks to the dedication of so many across our campus and community. CapRadio is a regional treasure and public good that will continue to thrive.”
Learn more and view the report at capradio.org/report.
About CapRadio
CapRadio serves California’s Capital Region, Central Valley, Sierra Nevada and North State as a public-supported alternative to for-profit media. As the NPR station based in Sacramento, CapRadio connects with communities through 32 broadcast towers, streaming, podcasts, digital communities, live experiences and more. CapRadio is recognized as a leader in community-engaged journalism and government accountability reporting, and its coverage is distributed throughout its Northern California network and to over a dozen NPR stations covering 97% of California counties each day. CapRadio is also the exclusive broadcast source of classical music and jazz in the region. Each week, nearly 500,000 people choose CapRadio as a valued source of news, storytelling, music and events. CapRadio is a Sacramento State auxiliary and operates under the University’s broadcasting license.
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CONTACT:
Chris Bruno
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