Report: UW finished 14-15 with $924 million on hand - WAOW - Newsline 9, Wausau News, Weather, Sports

Report: UW finished 14-15 with $924 million on hand

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MADISON, Wis. (AP) -- New financial statements show the University of Wisconsin System finished fiscal year 2014-15 with almost $924 million on hand.

The system released reports Monday showing its four-year schools, two-year campuses, UW-Extension and system administration had $923.9 million on hand when the fiscal year ended June 30. That's down from $973.3 million at the previous fiscal year's end.

The system amassed $337 million in tuition balances, down from $395 million. System President Ray Cross attributes that drop to a tuition freeze that's now entering its third year.

Cross says no spending plan exists for about $145 million across all funds, so he considers that number the system's true reserves. Cross says much of that money will go to help the system absorb a $250 million Republican-imposed budget cut.

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