Huge tuition surplus at UW
MADISON, Wis. (AP) – A new Legislative Fiscal Bureau report shows the University of Wisconsin System finished fiscal year 2012 with nearly $650 million sitting in reserve, including $414.1 million in surplus tuition dollars. The bureau released a memo Friday saying the tuition surplus was $212.8 million as of mid-2009 and $393 million as of mid-2011. Base tuition across the system’s four-year schools has gone up 5.5 percent annually between mid-2009 and mid-2012. Republican legislative leaders issued a statement blasting system administrators. They questioned how the system could justify raising tuition in light of the surplus and vowed to include a two-year freeze on tuition in the 2013-15 state budget. A system spokesman didn’t immediately return a message.
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