BREAKING NEWS - Massive UW Slush Fund Discovered
While the University of Wisconsin has been raising tuition and clamoring for more taxpayer support they have been stockpiling hundreds of millions of dollars in unspent tuition and federal grant monies.
Sources in Madison familiar with the discovery tell RightWisconsin that the total of non earmarked funds in the massive UW Slush Fund is at least $450 million.
News of the massive UW Slush Fund prompted a strong reaction from legislative Republicans.
Speaker Robin Vos (R-Rochester), Senate Majority Leader Scott Fitzgerald (R-Juneau), Joint Finance Co-Chairs Senator Alberta Darling (R-River Hills)and Rep. John Nygren (R-Marinette) and Assembly Majority Leader Scott Suder (R-Abbotsford) issued the following statement regarding the UW System’s surplus:
"We are outraged with the mishandling of taxpayer dollars and the pattern of incompetence shown by university system administrators. We want the citizens of this state to know that we will examine the gross mismanagement of the system’s finances. We will demand accountability and transparency.
"At a time when the UW System is asking for more flexibility and funding from the state, this situation clearly illustrates the need for strong legislative oversight. Our state deserves better from the institutions that are educating our students and future leaders. It is not only unfair to the students and their parents who keep getting hit with tuition hikes; it’s unfair to the taxpayers of Wisconsin.
"We want to assure the university students and their parents that, at a minimum, this budget will include a twoyear tuition freeze. We will work closely with Governor Walker to address this substantial accounting error and explore pursuing a comprehensive investigation into the management of UW System finances. "