California State University stashed $1.5 billion in reserves while hiking tuition, audit says

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The California State University stashed away $1.5 billion in discretionary reserves while raising tuition and lobbying the Legislature for more funds, according to a report released Thursday by California State Auditor Elaine Howle.

CSU put the money, which came primarily from student tuition, in outside accounts rather than in the state Treasury, the report said.

The investigation mirrors Howle’s 2017 report on the University of California Chancellor’s Office, which charged that top UC brass kept a $175 million slush fund while hiking students’ tuition.

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