Two Virginia state senators are calling for an investigation into a $2.3 billion investment fund at the University of Virginia that former Rector Helen E. Dragas characterized as a “slush fund.”
Dragas made the accusation in an opinion piece for The Washington Post’s higher education blog, “Grade Point,” last week. UVa officials say the money — known as the Strategic Investment Fund — is a combination of investment returns and capital reserves that have been set aside for improvements to the university and the Medical Center.
But Dragas’ accusation was alarming enough to get the attention of Sens. J. Chapman “Chap” Petersen, D-Fairfax City, and William R. DeSteph Jr., R-Virginia Beach, who called for a forensic audit of the fund on Thursday.
