The idea that tuition increases are just to make up for deep cuts in state funding is mostly a myth. State funding was cut during the Great Recession, yes, but even if state subsidies had kept pace with enrollment growth and inflation, tuition would still have had to double.
The problem is that expenditure growth is outstripping all non-tuition sources of revenue. E.g. research grants, which account for 1/4 of the budget, have increased only 60%. Endowment income, of course, has not kept pace either given the state of the markets. The University has grown expenditures far faster than its growth in revenues, and has made up for the difference by tripling tuitions.
Academics is only part of university budgets. Other principal costs include housing, tuition assistance, administration, buildings, grounds, support services, and athletics. Not exactly sure how UVA divvies things up.
This says to me that some other source of funding (state subsidy?) has just about disappeared, is that right?