SACRAMENTO – Assembly Higher Education Committee Vice Chair Catharine Baker issued the following statement in response to the California State Auditor’s report detailing an undisclosed $175 million reserve fund maintained by the Office of the President of the University of California and other financial concerns:
“The UC Board of Regents just raised tuition on students and has nearly doubled in-state student tuition over the last 10 years, while spending hundreds of millions of dollars on projects and administrative salaries. Students and their families deserve confidence that their money is being spent wisely. The UC Office of the President acknowledges the need to address the Auditor’s findings. I look forward to working with my Assembly colleagues, students, and the UC to get to the bottom of this and do all we can to help UC get its financial house in order.”
