ZOMG! The University of Wisconsin System Is Working!

[Viking12]

1. Direct link to the independent review story

Last edited Tue Apr 30, 2013, 07:41 AM - Edit history (1)

Accounting Policy at the National Association of College and University Business Officers. The organization known as NACUBO represents about 2,200 colleges and universities nationwide. About half are public institutions.

Menditto says she regularly analyzes universities' financial statements. She looked at the UW's statements before commenting on this story.

“Nothing struck me as unusual compared to other systems or public institutions operating statements that I review.”

A memo last week from the non-partisan Legislative Fiscal Bureau found the UW had reserves of $648 million. But the memo also stated that the university was already committed to spending more than $400 million of that, leaving $207 million in reserves. Menditto says that's the number to focus on: “To me that's one month of an operating budget, as defined by the Legislative Fiscal Bureau.”

http://news.wpr.org/post/accounting-expert-uw-surplus-nothing-unusual