WASHINGTON 鈥� The call is growing for the University of Virginia to explain its $2.3 billion investment聽fund.
“I thought, ‘Well that can’t be possible. That’s triple the state’s own cash reserve,” Fairfax聽City Sen. Chapman “Chap” Petersen said, recalling when he first heard the number.
Last month, he co-wrote a letter asking how聽the university聽came by聽the聽money and聽the response was weighty.
“I’ve received several hundreds of pages of documents,” he said.
Petersen聽is one of 11 members who followed the so-called data dump with a demand the school respect the outraged assembly’s request.
“[T]he university’s less-than-adequate response 鈥� much less Rector Goodwin’s carefully crafted public commentary 鈥� has done nothing to alleviate our mounting concerns,” the members’ letter聽read in part.
“At end of the day, I’m not accusing anybody of wrongdoing. I just think the Board of Visitors聽has to be accountable for this policy of what is effectively overcharging the customers of the university,” Petersen said.
The University of Virginia defends its documented聽response, releasing this statement, in part:
“The university鈥檚 thorough response includes a financial breakdown of funds as far back as 2007, and explains how the university鈥檚 prudent financial management of these funds were accounted for and publicly reported over this period of time.”
Read the letter from the Virginia Senate:
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