Scathing Audit of the University of California’s Budget Finds Hidden $175 million

By Sandy Wells
KABC News

A scathing audit of the University of California’s budget has uncovered $175 million in hidden dollars.

Kathryn Lybarger, President of Local 3299 of AFSCME, the UC system’s largest employee union, says UC routinely cries poverty, cuts services for students while admitting more foreign students who pay higher tuition.

“The University of California’s Office of the President has been intentionally deceptive ..they’ve squandered a billion dollars on hedge fund fees and they’ve done all this by tripling tuition while outsourcing jobs to poverty wage contractors.”

The audit also says the Office of the President paid ten administrators salaries that were two and a half million dollars more than other state employees with similar jobs. It also said the Office of the President never told the Regents about the 175 million in “reserve funds.”

Perhaps even more disturbing was that the auditors said they did not believe things would get better:

“Finally, the Office of the President’s actions during this audit have caused us to question whether it will make a genuine effort to change. This conclusion is based on the fact that it intentionally interfered with our audit process, which hindered our ability in addressing certain aspects of our audit objectives”

Lybarger was a guest on McIntyre in the Morning.

For the full article, click on the link below.
[Source]: KABC News