University of California administrators hid $175 million from the public, its governing board and lawmakers in a secret reserve fund even as the UC raised tuition and asked the state for more funding, the state auditor said in a scathing report released Tuesday.
Since the Affordable Care Act came online, 20 million more Americans have access to healthcare, including a million more Californians.
For healthcare providers like UC Irvine Medical Center, this means more customers. In fact, according to its last financial report, UCIMC has seen substantial increases in both patient admissions and outpatient visits over the past year.
Oakland: In a blistering critique of financial and administrative practices at the University of California’s Office of the President (UCOP) released this morning, California State Auditor Elaine Howle has concluded that UCOP failed to disclose nearly $200 million in “amassed reserve funds,” “used misleading budgeting practices,” provided its highest-paid employees with overly generous salaries and benefits, “failed to justify” its spending on system-wide initiatives, and “intentionally interfered” with the State’s Audit process.