Weekly Column: Legislature Needs to Examine UVA’s $2 Billion Cash Reserve

The following is my column that will appear in the Mt. Vernon Gazette, The Mt. Vernon Voice and The Potomac-Stafford Local in the week of August 8, 2016.

Legislature Needs to Examine UVA’s $2 Billion Cash Reserve

In July, it was revealed that the University of Virginia had managed to retain over $2 billion of excess revenues – exclusive of their $5 billion endowment maintained by their foundation.  An outgoing member of the Board of Visitors called it a “slush fund.” 

This was very concerning to me for several reasons.  First, UVA has increased its tuition by nearly 100% in the last ten years.  UVA’s debt at graduation is up by over 50% in the last years to over $23,000.    Tuition has been exploding in Virginia while UVA has been pocketing over $2 billion of excess revenue. 

Second, while every school needs working capital and a modest financial reserve to operate, I do not believe any school needs to keep cash reserves on hand that amount to $50,000 per student.  UVA is a public school – not a private university.

Supreme Court of Virginia: PWC School Board Must Choose Replacement

Last month, the elected member of the Brentsville District on the Prince William County School Board, Gil Trenum advised his colleagues that he had received orders to report for active duty service for twelve months.  However, he attempted to condition his notice on being able to choose his temporary successor.

Virginia Law provides that when any local government official is called into active duty, they do not forfeit their position for serving our country, but only take a temporary leave of absence.  Confusion arose as to whether Mr. Trenum could select his replacement or the School Board could choose.

In light of the confusion about the process, I requested an Attorney General's opinion.   You can read my request and the response below.