Unreserved

[Click on image to enlarge.]

The San Francisco Chronicle conveniently breaks down the "secret reserve" the state auditor accused UC of having as in the chart above. See:

http://www.sfchronicle.com/education/article/Closer-look-at-175-million-UC-hid-from-the-public-11144359.php.

The Chronicle also reports that Regent Blum is quite unreserved in his opinion that the reserve accusation is "total nonsense." He has a similar, if stronger, negative reaction to the reaction regarding the reserve of fellow (ex officio) Regent Gavin Newsom (also Lt. Guv. and gubernatorial candidate):

University of California President Janet Napolitano may be on the hot seat with state lawmakers over the state auditor’s findings that her office had $175 million hidden away — but she is on firm footing with UC’s regents, even after their call to bring in their own auditor to review the state’s assessment.

“It’s total nonsense,” Regent Richard Blum, a major financial contributor to UC, said of the Board of Regents-ordered audit. “But if I were still (the board’s) chairman, I might feel the need to do it as well.”

...“I’m not easily snowed over, and in my opinion Janet Napolitano is an excellent UC president and I support her,” Blum said.

Blum is hardly alone on the board in his view of Napolitano. Even Lt. Gov. Gavin Newsom, who sits on the board and who criticized Napolitano for holding back the money while raising tuition, said, “I continue to believe in her ability and capacity to turn it around.”

Not that Blum exactly embraces Newsom as an ally. In fact, he said the lieutenant governor’s criticism of Napolitano’s money handling was “chicken s—.”

“And you can print that.” Well, not in a family newspaper we can’t.

Source: http://www.sfchronicle.com/news/article/Key-UC-regent-is-standing-by-Napolitano-11143082.php