UC criticized by state auditor for secrecy in spending
The University of California is being criticized in a new state-commissioned audit for failing to release detailed financial information about how it spends taxpayer dollars and tuition money, including some $6 billion spent over the past five years that UC officials classified simply as "Miscellaneous services." The audit, released Thursday by state auditor Elaine Howle, also expresses disapproval over UC’s decision to dole out funding to each of its 10 campuses using a secret formula that UC officials would not explain even to auditors… the UC Office of the President used a single accounting code, Miscellaneous Services, to categorize more than $6 billion in expenditures over a five-year period ending in 2010. Those funds make up about a quarter of all of UC’s non-compensation expenses, Howle said.
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by Scott Martindale, The Orange County Register.