LOUISVILLE, Ky. (AP) — The University of Louisville's foundation, which has been beset by financial turmoil, has fired its chief financial officer.

Media outlets report Jason Tomlinson was fired after the foundation board met Tuesday.

His firing comes after foundation president James Ramsey resigned last September and secretary Kathleen Smith was terminated last month.

No reason was given for Tomlinson's firing, but foundation chair Diane Medley said trio's departures give the foundation a "fresh start."

Tomlinson's firing coincided with news about a drop in gifts to the university's academic programs from about $84 million in 2016 to $63 million in 2017. Vice president of university advancement Keith Inman says it's the most dramatic drop since he joined the university in 2006.

Last week the Kentucky attorney general's office announced it was launching an investigation of the foundation.