2 state senators seek investigation into UVa fund
Posted: Thursday, July 14, 2016 8:28 pm
BY DEREK QUIZON
Two Virginia state senators are calling for an investigation into a $2.3 billion investment fund at the University of Virginia that former Rector Helen E. Dragas characterized as a slush fund.
Dragas made the accusation in an opinion piece for The Washington Posts higher education blog, Grade Point, last week. UVa officials say the money known as the Strategic Investment Fund is a combination of investment returns and capital reserves that have been set aside for improvements to the university and the Medical Center.
But Dragas accusation was alarming enough to get the attention of Sens. J. Chapman Chap Petersen, D-Fairfax City, and William R. DeSteph Jr., R-Virginia Beach, who called for a forensic audit of the fund on Thursday.
DeSteph said he was planning to send letters to the state inspector general, the attorney general and the auditor of public accounts on Friday. ... Theres just something thats not right, DeSteph said Thursday. I dont know whats right or wrong on this, but Im asking questions.