Legislature's Finance Committee Set To Vote On New Policy
Saturday, May 3rd, 2014 -- 9:09 AM
The Legislature's finance committee is set to vote on the University of Wisconsin System's new policy for reporting surpluses.System officials have taken criticism over the last year for building massive surpluses while raising tuition year after year.
The state budget Republican Gov. Scott Walker signed last June froze tuition and required the Board of Regents to craft a policy on how much cash each campus can have on hand.
The regents' plan calls for campuses to finish each fiscal year with cash on hand totaling at least 10 percent of annual expenditures. If they finish with more than 15 percent they would need regent approval. Campuses couldn't use the 10 percent target as justification for tuition increases.
The finance committee is set to consider the policy on Tuesday
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