The University of Wisconsin Board of Regents approved a $6 billion budget Thursday that will absorb the first year of a two-year $250 million cut in state funding.
The one-year budget plan includes a $125 million base reduction in state aid spread across the entire UW System. UW-Madison will take the largest hit, totaling a $58.9 million loss, with UW-Milwaukee coming in second with a $18 million loss.
UW-Milwaukee, however, will see the largest decrease percent-wise to its operating budget at 5.1 percent. UW-Madison will see a .75 percent decrease.
Budget papers reveal UW-Madison, UW-Milwaukee will take biggest cuts
The budget passed in a 15-2 vote with Regents Chuck Pruitt and Tony Evers as the sole dissenters. Pruitt reportedly admitted his actions were largely symbolic, however said he felt the need to send a message about the vast impact of this budget, calling it “toxic.”
The budget was passed in response to a state budget plan which legislators approved earlier this week. The state budget is set reduce funding to UW System schools by $250 million over the next two years and is currently awaiting Gov. Scott Walker’s approval.
In a letter to Walker Friday, Chancellor Rebecca Blank did not address the cuts but requested a veto on the shared governance and tenure provisions in the budget.
To cover the cost of first year of cuts, the System will pull roughly $180 million from its reserves. Some budget officials, however, warned against this decision. Regent Margaret Farrow called it “unconscionable.”
“If that becomes the cushion that balances our budget, what happens when we don’t have a surplus?” Farrow told the Milwaukee Journal Sentinel.
UW-Madison’s portion of the cuts accounts for 40 percent of the overall state reductions. UW-Madison will also use its reserve money as well as an out-of-state tuition increase to cushion the financial blow.
UW-Madison’s out-of-state tuition will increase by $10,000 over next four years
Campus officials have yet to say how the cuts will be spread across the university or which areas will be most greatly impacted.
