- Associated Press - Wednesday, August 10, 2016

RICHMOND, Va. (AP) - State legislators have set two hearings that will allow the University of Virginia to explain a $2.2 billion investment fund.

The Richmond Times-Dispatch (https://bit.ly/2aVZYUa ) reports that House Appropriations Chairman S. Chris Jones has invited the university to make a presentation on the Strategic Investment Fund to his committee on Sept. 19.

Jones says that the House and Senate money committees will also hold a hearing to get a full picture of the origin of fund resources and its purpose.

The hearings are expected to go over whether any surplus funds should have been used to lower tuition costs for students.

The university released records and opened its books to the state auditor and inspector general last week in response to the inquiries over the fund.

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Information from: Richmond Times-Dispatch, https://www.timesdispatch.com

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