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