Dante Acosta
Tuesday, Assemblyman Dante Acosta (R-Santa Clarita) requested a subpoena for all financial records and correspondence related to the secret $175 million slush fund maintained by the Office of the President of the University of California. Additionally, Assemblyman Acosta will request an independent forensic audit to determine if UC administrators engaged in criminal activity.
“This audit is extremely disturbing,” Acosta said. “It is not a question of whether or not the Office of the President of the UC mismanaged funds, and engaged in irresponsible behavior. That is clear from this audit – what remains is the question of whether or not the actions described and hinted at in the audit rise to the level of requiring a criminal investigation. We are not going to stop until we have those answers. The students, parents, and the many thousands of graduates struggling to meet student loan payments deserve nothing less.”
The request came in response to a California State Auditor report which revealed that the UC’s Office of the President amassed a secret $175 million slush fund while hitting students with tuition and fee increases. The UC administration may have used the fund for non-academic purposes, including administrator pay, bonuses and a home remodel for the president. The report also noted that UC officials attempted to cover up the fund by withholding financial data and censoring employees’ responses to the auditor.
A full copy of the subpoena request can be found [here].
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