by James A. Bacon

The Youngkin-appointed majority in the University of Virginia Board of Visitors flexed its muscles for the first time Friday, asserting its authority to oversee the Strategic Investment Fund (SIF) accounting for 2% to 3% of the UVA academic division’s total spending.
Board members also signaled that they wanted advance notice of the administration’s proposed 2025-26 academic-year budget rather than being presented with a fait accompli in the June meeting.
Board deliberations were civil and non-confrontational. Indeed, the board approved a 5.5% increase in student housing and meal plans next year as well as tuition increases up to 4%, depending upon the program, for graduate and professional students.
Board member Doug Wetmore, who introduced the motion authorizing the board to assume more oversight of the SIF, stressed that the overwhelming majority of the administration’s proposals probably would meet board approval. “It’s been a very successful program,” he said.
However, he described it as “essential” for the board to review the proposals, which have added up to a half billion dollars since its creation in 2016. “A core responsibility of the board is to review spending of this magnitude,” he said.
A majority of board members agreed.
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