State audit found CSU failed to fully disclose $1.5 Billion Reserve
Tuition for Cal State University students has more than doubled since 2008, and so has a $1.5 billion fund that the CSU system has accumulated in the past decade. The fund is primarily made up of student tuition.
A state audit of the Cal State system, conducted in June of this year, found that the CSU failed to fully disclose the funds held in outside accounts to legislators and the Cal State Student Association. Between 2012 and 2018, the CSU received increased funding from the state. The audit was requested by California State Assembly member Sharon Quirk-Silva.
“This audit paints a picture of disregard for our students and parents, all while failing to use these funds for the good of students,” Quirk-Silva said during a joint legislative committee hearing about the audit’s findings on Aug. 12.
To learn more about the audit you can read more at Daily Titan.