UPDATE 6/6/14 at 9:08 p.m. - This article has been updated to reflect leadership election results.
The University of Wisconsin System Board of Regents unanimously approved a $6.097 billion spending plan for the 2015 fiscal year Thursday, which included freezing tuition for the second year in a row.
The Board enacted the freeze in accordance with Gov. Scott Walker’s 2013 mandate that called for a two-year tuition freeze across the UW System. Walker announced in April he would recommend a two-year extension of the freeze in the next state budget if re-elected.
Regent Margaret Farrow shared her fear that an extension of the tuition freeze, which would apply to both in-state and out-of-state tuition, unnecessarily limits the System’s resources.
“I think we should be raising non-resident tuition,” Farrow said. “I think we are a bargain for non-residents and I wish they were paying more.”
UW System President Raymond Cross emphasized the lessened dependence on tuition-based funding in the UW System’s spending plan.
“It is important to note that the tuition portion of the balances is projected to drop significantly,” Cross added. He said that portion is projected to decrease by 45 percent.
Cross also shared his concern that only a small portion of the overall budget was saved for unallocated expenses.
“That is just three percent of our overall budget that is set aside for contingencies and emergencies,” Cross said. “Yes, that does concern me … these reductions were both strategic and necessary.”
Several of the regents praised the new fiscal reporting methods used for the first time this year, which Cross said are designed to improve transparency in the UW System’s budget process.
“The format of this budget gives us an opportunity not only to look at our financials as they exist now, but to plan into the future,” Board of Regents Vice President Regina Millner said. “It’s a tool we can use not only in our own planning, but in communicating to legislators … and, more importantly, to the families and the students that attend our universities.”
The Board also discussed their biennial budget request to be submitted to the state legislature for consideration in the 2015-’16 state budget. Cross said he hopes the final budget request will reflect the UW System’s commitment to financial reporting reform, college affordability, sustainable employee compensation solutions and the use of university resources to the benefit of the entire state.
Cross emphasized that the biennial budget request proposal will include a proposed extension of the tuition freeze. The regents will approve a final request in August.
The body also honored Regents Emeritus Gary Roberts, John Drew, Chad Landes and Tracy Hribar and welcomed new regents José Delgado, Eve Hall, Nicolas Harsy and Anicka Purath.
Board President Michael Falbo and Vice President Millner were also both re-elected to their top leadership positions by fellow regents and will each serve a one-year term.
