Western New Mexico University president resigns after audit citing improper use of public funds
Western New Mexico University's president has agreed to resign
SILVER CITY, N.M. -- Western New Mexico University's president, who has faced scrutiny over his spending on overseas trips and his wife's use of a university credit card, resigned Friday as part of a deal that guarantees him a new job and $1.9 million.
Joseph Shepard's resignation comes after an investigation by the New Mexico state auditor’s office found top university officials and regents had failed to uphold their fiduciary responsibilities. The audit made public last month cited more than $363,000 in spending that didn’t comply with university rules.
Shepard's last day will be Jan. 15, the Santa Fe New Mexican reported. He will get a one-time payment of $1.9 million, or what he would have earned in five years as president, according to the newspaper.
Shepard, 60, also secured a teaching job for five years at the university's business school. The position pays at least $200,000 annually.
The university's board of regents approved the deal in a 5-0 vote. At the meeting, Shepard said the accusations against him were lies, according to the newspaper.
“A lie gets halfway around the world before the truth gets its boots on,” he said.
State lawmakers started raising questions last year about Shepard's spending on international travel and high-end furniture. Despite the scrutiny, regents threw their support behind Shepard.
University officials said in a statement at the time that WNMU takes its fiduciary responsibility seriously.
“The university adheres to rigorous fiscal standards to ensure that all dollars are maximized for the benefit of its students, faculty, staff, community and the citizens of New Mexico,” the university stated
Although its name has changed multiple times over the years, Western New Mexico’s history dates back to the 1890s, before statehood.
Shepard was appointed president in 2011, following a 16-year career at Florida Gulf State University that included several administrative roles. His wife, Valerie Plame, is a former CIA operations officer who ran unsuccessfully for New Mexico’s 3rd Congressional District in the 2020 Democratic primary.