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    U. Virginia to Pay U.S. Government $1 Million Dollars in Settlement

    U. Virginia to Pay U.S. Government $1 Million Dollars in Settlement

    “The university takes seriously its responsibility to be a good steward of federal funds”

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    The school was accused of not accounting for the way it used some federal grant money. It was a pretty expensive mistake.

    The Richmond Times-Dispatch reports:

    University of Virginia to pay $1 million in settlement with U.S. government

    Authorities said Tuesday that the University of Virginia has agreed to pay $1 million to settle claims that it did not properly account for some rebates and credits it received on purchases made in connection with federal grants and awards.

    According to a statement from the U.S. attorney’s office, universities can spend money from federal awards to buy materials for use in meeting the obligations of the award.

    Details were not initially available Tuesday, but the settlement states that some rebates and discounts obtained on purchases by the university from 2009 to 2017 were not accounted for in reducing charges against awarded funds.

    Federal regulations require that “rebates and discounts obtained when making these purchases must be accounted for and subtracted from claims made by a university against Federal Award funds.”

    “The United States … contends that rebates and discounts obtained on certain purchases by UVA during the 2009 to 2017 time frame were not accounted for in reducing charges against Federal Award funding,” states the settlement.

    UVA spokesman Brian Coy said the university was pleased to have resolved the matter with the federal government.

    “The university takes seriously its responsibility to be a good steward of federal funds and addressed areas of potential disagreement regarding accounting for rebates and credits for the time period between 2009-2017,” Coy said. “The university has fully cooperated with the investigation and implemented new policy changes to our accounting practices.”

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    Comments


     
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    healthguyfsu | July 1, 2020 at 1:19 pm

    This is pretty small by comparison to some that I’ve seen that were in the multiples of millions.

    That said, UVA has been running roughshod over the state procedures like they are above them. VT is guilty of the same to a lesser extent. It’s about time someone smacked at least one of them in the mouth for it.

    .
    @Mike, it’s “$1 million.”

    “$1 million dollars” makes no sense.

    Just FYI…


     
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     1
    CapeBuffalo | July 2, 2020 at 3:43 pm

    Dr. Evil, “one million dollars!”

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