COLLEGE
06/30/2010 05:22 pm ET | Updated May 25, 2011

Naval Academy Superintendent Retiring After Slush Fund Discovery

U.S. Naval Academy Superintendent Vice Admiral Jeffrey Fowler is taking what reports call an "early exit" due to the revelation of a substantial slush fund at the school.

Fowler faced "administrative action" earlier this year, when the fund was first reported. Though it appears that Fowler did not manage the fund directly, he "believed any expenditures he authorized were permissible," Rear Admiral Denny Moynihan told the Navy Times.

As the Times reports, permissible expenditures were wide-ranging:

The [Naval Inspector General] investigation found that Naval Academy officials working under Fowler had created a "sham" bank account that helped fund things like a $10,000 party for the academy's golf association and $1,000 worth of wine for a dinner party at the superintendent's house.

The IG did not substantiate any of the allegations that Fowler was knowingly involved in the financial misconduct.

The fund was also used to bankroll tailgate events, an 18-wheel tractor trailer, a decorative antique airplane and video production services.

The IG concluded that the slush fund's existence was a "sham" requiring "little accountability."

Fowler will retire in September.

What do you think? Was Fowler wrong to authorize such expenditures? Weigh in below.

Subscribe to the Lifestyle email.
Life hacks and juicy stories to get you through the week.