New UW president wants to clarify finances

By The Associated Press | Posted - Mar. 6, 2014 at 8:50 a.m.



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MADISON, Wis. (AP) — The University of Wisconsin System's new president says his top priority will be helping regents understand the system's finances.

Ray Cross addressed the regents Wednesday for the first time since taking over the president's position in mid-February. He has pledged more transparency in the system's finances after Republican legislators lambasted system officials last year allowing campuses to quietly accumulate huge funding reserves while raising tuition.

Cross said the system must do a better job communicating its financial situation. He said he wants to help everyone in the room gain a basic understanding of system's finances, provide a campus-by-campus breakdown of reserves, put out quarterly financial reports and include a projection of year-end cash balances in upcoming system budgets.

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