A. Each public institution of higher education shall release an annual report regarding foundations associated with the institution setting forth foundation expenses. The annual report shall include:\n1. The total annual expenditures by each foundation;\n2. The percentage of expenditures used for scholarships or financial aid by each foundation;\n3. The percentage of expenditures used for faculty compensation by each foundation;\n4. The percentage of expenditures used for program costs by each foundation;\n5. The percentage of expenditures used for equipment and technology by each foundation;\n6. The percentage of expenditures used for administrative support by each foundation; and\n7. The percentage of expenditures used for executive compensation by each foundation.\nB. This section shall not apply to the Virginia Community College System.\n2020, c. 511.
Virginia Legal Code