University administrators have been asked to provide information on the school’s controversial Strategic Investment Fund to the House of Delegates Appropriations Committee next month.
The fund, a $2.2 billion fund established earlier this year, has been the subject of questions relating to Board of Visitors oversight of the administration, as well as transparency in board meetings. Former Rector Helen Dragas called it a “slush fund” created to benefit “board and administrative pet projects.”
Rector William Goodwin Jr. published an editorial in UVA Today earlier this month dismissing the allegations.
“Such a characterization conveniently ignores a rigorous, multi-stage process that accepts proposals from across the University community and subjects them to a faculty committee review, an assessment by a leadership committee, and final approval by the Board,” Goodwin said in the article.
“Pet projects don’t survive that level of scrutiny,” he added.
Dragas has since been joined by a number of state legislators in her concerns, all of whom have questioned why tuition has been raised at the University if such a large surplus exists.
They also claim administrators’ responses to its request for documentation have been lacking.
In a letter sent to President Teresa Sullivan and Goodwin on Monday, the legislators requested the University turn over all documents pertaining to the fund. Administrators had previously excluded some financial documents on the basis of “personnel” exemptions allowed by the Freedom of Information Act.
“We respectfully remind you that your duty is owed not to a select few but to the 8.3 million Virginians you also serve,” reads the letter.
The legislators demanded recent tuition raises be immediately canceled – “Not next year, but now” — and a moratorium be placed on expenditures from the fund. They have requested a “fulsome response” from the University no later than this Friday, Aug. 12.
University Spokesperson Anthony de Bruyn said administrators are currently reviewing the letter.
“The University has reopened its books to the Auditor of Public Accounts and the State Inspector General and is cooperating fully with their respective reviews,” de Bruyn said in an email statement.
“It is important to note that none of the funds have been spent, and the Board has yet to discuss how the funds would be spent,” de Bruyn added.
The appropriations committee hearing is scheduled for Sept. 19. The House and Senate Money Committees are also planning to question University officials regarding the fund.
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