May 2, 2013
After the "CPA Caucus" in the state legislature discovered that the UW System had over $1 billion in reserves, many elected officials were quick to call for tuition freezes and funding cuts for the universities. Rep. Dale Kooyenga (R-Brookfield) told the Milwuakee Journal Sentinel on Wednesday that the UW System informed the legislature the balance would grow by an additional $150 million by the end of June.
UW System reserves projected to grow another $150 million
Madison - Money in reserve funds at the University of Wisconsin System is projected to grow by another $150 million by the end of June, according to UW figures.
Lawmakers lambasted UW officials after learning a week and a half ago the UW System had more than $1 billion in reserve as of June 2012, of which $648 million was unrestricted. The total reserve will climb to nearly $1.2 billion by the end of this June, when the fiscal year ends, UW officials told lawmakers Wednesday.
The figures university officials gave to legislators did not say how much of that money would be restricted. The total increase over the year would be $150 million, or 14%.
"It continues to show that the UW System has plenty of resources," said Rep. Dale Kooyenga (R-Brookfield). "Let's just put a pause on tuition, and let's put a pause on more (taxpayer money)."
Read the entire article here.