UW regents to consider policy on cash reserves
KENOSHA, Wis. (AP) -- Top officials in the University of Wisconsin System will be reviewing a proposed policy spelling out how much cash campuses should keep on hand.
The UW System Board of Regents will gather Thursday morning at UW-Parkside in Kenosha. In the afternoon they'll break into committees.
The business and finance committee is scheduled to discuss the proposal on how to calculate appropriate reserve levels. System officials have proposed requiring campuses to maintain reserves of at least 10 percent. Institutions would have to justify reserves exceeding 15 percent.
The move comes after news broke this spring that the system built up massive reserves even while hiking tuition every year for six years.
If the committee approves the policy, the entire board will vote on it Friday.