BREAKING NEWS - Massive University of Wisconsin Slush Fund Discovered
By Brian Fraley
Published: 1:30 PM April 19, 2013
Hundreds of Millions of Dollars Hoarded as Tuition Skyrocketed
UPDATE: From a Legislative Fiscal Bureau memo confirming the existence of the massive UW Slush Fund:
[quote]The UW System had a tuition balance of $414.1 million as of June 30, 2012. By comparison, the UW System’s tuition balance was $212.8 million as of June
30, 2009. During this time period, base resident undergraduate tuition increased by 5.5% annually.
It should be noted that the UW System’s tuition balance increased significantly at the same time that the UW System has been subject to significant GPR funding reductions and lapses.
Three things worth noting in this story:
In the years when UW was jacking up tuition, this “slush fund” almost doubled (from ~$213M to ~$414M) in 3 years and has been growing;
In the years when UW was poor-mouthing for more $$ from the WI legislature, this “slush fund” almost doubled and has been growing;
Lack of public visibility translates to lack of accountability; this $$ could have been misused with near impunity (I wonder if the campaigns to recall Gov. Walker and turn out WSC Justice Prosser may have received $$ from this slush fund?).