Thursday, March 5, 2015

'Committee of Two' and Delay of JLAC Audits on UC- Or, 'UC Admin In Tights'- 'til July 2015?

Remaking the University: Will The legislature Continue To Support A Research University
UC Falsely Describes Tuition Plan as "Robin Hood" Scheme
see:Wall Street Journal on Goldman Sachs and UC new partnership:

Goldman also recently disclosed a new partnership with University of California’s Board of Regents, a committee that has fiduciary responsibility for a more than $90 billion pool of pension, endowment and other assets.

In July, the university’s regents and Goldman each put up $100 million through a Delaware limited liability company, under an agreement that will see Goldman source senior middle-market loans for a 50/50 joint portfolio, subject to a quorum of a six-member board review.
The University of California’s Board of Regents, known as Cal Regents, has invested alongside Goldman before, in assets ranging from real estate to private equity, the group said, and Goldman manages money the university has already invested in publicly traded debt securities, including from below-investment-grade borrowers.
“We wanted to partner with Goldman, so we can to some degree ‘go to school’ on their credit process,” said Randy Wedding, senior managing director overseeing about $25 billion of fixed income at the university, in an interview. He said senior loans are attractive assets because their rates float above a moving benchmark and “when rates go up, these [loans] will be insulated to some degree.”

see San Diego Reader with this story on UCSD: "Million-dollar Annie"

Word that Ann Spira Campbell, formerly number two at the San Diego Opera, has become the senior executive director for principal gifts at UCSD has tongues wagging among local rainmakers. The ex-wife of former opera honcho Ian Campbell grabbed the job early last month even as the California attorney general’s office continues to investigate the opera’s financial operations during the couple’s tenure. ”
-and the short but interesting article goes on in detail from there...
See this SF Chronicle Editorial: UC Negotiations Aren’t Getting Us Anywhere

Then, consider the following --that two proposed audits of UC received almost unanimous JLAC approval votes- but also note that the start of the audits are also now being delayed until the Committee of Two (Brown, Napolitano) complete their meetings - a delay until July 2015...

See CA Joint Leg Audit Committee on Two New UC Audits
First they discuss this audit "UC and CSU Funding for Public Safety Services" where UC Development also comes up in the discussion.

Here is the video of the full March 4th meeting:

At the 55:00 mark another audit on "UC Budget Process, Non Resident Enrollment & Executive Compensation"
Rebenching covered in detail.
Graduate Student population also discussed, included.
Resident and Nonresident enrollment targets - and how does it compare to competitors?
A ten year review approach.
below is a video clip of only that section of the meeting:

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