State Audit Finds University of California Secreted Away $175 Million

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A student walks near Royce Hall on the campus of UCLA on April 23, 2012 in Los Angeles, California. (Photo: Kevork Djansezian/Getty Images)

An independent state audit released last week found that the University of California's Office of the President had a secret stash of $175 million in reserve funds while simultaneously seeking to raise tuition. The audit also accused UC of intentionally interfering with the audit process and recommended that the university adjust the "generous compensation" paid to some executive staff. We discuss the audit report and what it means for the University of California.


Melody Gutierrez, politics and government reporter, San Francisco Chronicle

Dianne Klein, executive director of strategic communications, University of California Office of the President

Kevin McCarty, assemblymember representing California's 7th district