NBC15 WMTV | Madison, WI | News, Weather, Sports

Panel wants more details on UW reserve plan

Posted Wednesday, November 20, 2013 --- 11:50 a.m.

MADISON, Wis. (AP) -- The Legislature's Audit Committee wants more information from the University of Wisconsin System before it will vote on its plan for how much money it will keep in reserves.

The committee delayed a scheduled vote Wednesday on approving the system's plan for dealing with reserves.

The UW Board of Regents created a policy earlier this year requiring campuses to maintain reserves of at least 10 percent, and they'd have to justify reserves above 15 percent. The move became necessary after news broke this spring that the system built up massive reserves even while hiking tuition for six straight years.

Lawmakers on the Legislature's Audit Committee say UW needs to address questions about its methodology and policy before the panel will vote on the plan.

Copyright 2013: Associated Press


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
NBC15 615 Forward Drive Madison, Wisconsin 53711 Business: 608-274-1515 Newsroom: 608-274-1500
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 232687511