Madison
66° F
Light Rain
Light Rain
Advertisement

UW regents blame lack of financial transparency

Published On: Jun 06 2013 12:33:20 PM CDT

MILWAUKEE -

Several regents of the University of Wisconsin System say UW officials should have been more transparent about their financial numbers, so lawmakers wouldn't have felt blindsided by news of a cash surplus.

The Joint Finance Committee recently voted to slash the UW System's budget. That was partly because an audit showed the system had $650 million in reserves at one point.

The regents met Thursday in Milwaukee. Several said lawmakers might not have reacted so harshly had the UW System been clearer about how much money it had.

Regent Jose Vasquez said officials should have clarified that much of the money is already earmarked, and not just sitting in the bank.

Regent Tim Higgins said the board needs to make sure legislators know the money entrusted to the UW System is being used wisely.

Advertisement
  • Safest Cities - Honolulu

    Marco Garcia/Getty Images

    4. Honolulu, Hawaii

    US cities where residents feel safest

    Gallup-Healthways has ranked the U.S. cities that feel the safest to residents.  How a city ranked on the list was based on how it measured in perceived safety, financial security and sense of community. Click through for the top 20.

  • Takata

    CNN

    12 biggest auto recalls

    Over 2 million more vehicles were added to official lists of models being recalled because of potentially dangerous airbags made by Japanese manufacturer Takata. The recall now totals about 36 million vehicles worldwide. Take a look at the biggest auto recalls in history.

  • Fidel sign Cuba

    Getty Images

    Looking back: U.S.-Cuba relations

    The United States officially removed Cuba from its list of countries that sponsor terrorism on Friday . Get up to speed on the last five decades of American foreign policy toward Cuba.

Advertisement