AFP-Wisconsin responds to UW Surplus
University of Wisconsin Slush Fund Discovered
Legislative CPA Caucus uncovers massive hidden slush fund at UW System
Madison… Late on Friday, it was announced that a massive $1 billion ($650 million in unrestricted funds) surplus had been discovered at the University of Wisconsin System. The surplus was uncovered by the Assembly CPA Caucus, Reps. Kooyenga, Kapenga, Klenke and Marklein. It was then confirmed by the non-partisan Legislative Fiscal Bureau after reviewing the legislator’s findings.
“Once again, bureaucrats are being dishonest with Wisconsin taxpayers and stashing away their hard earned dollars for special projects,” said Luke Hilgemann, Americans for Prosperity-Wisconsin State Director. “The legislators who discovered this fraud deserve a big thank you from taxpayers and UW tuition payers across the state. This is what happens when folks with real world experience bring their knowledge to the Legislature. We commend these citizen legislators for their dedication to truly serving the people of Wisconsin and putting the interests of taxpayers first.”
The largest portion of the surplus funds was in tuition accounts where more than $400 million had be held over by the UW System. What’s worse, the University of Wisconsin System Board of Regents have raised tuition 16.5% over the last 3 years despite these reserve funds!
“It is mind boggling that the UW would continue to raise tuition in these difficult economic times to pad their slush fund,” Hilgemann said. “I am confident that the Legislature and Governor will work to quickly correct this scam for the benefit of all tax and tuition payers.”
Americans for Prosperity (AFP) is the nation’s premier grassroots organization of citizen leaders working at the state and local level and committed to advancing every individual’s right to economic freedom and opportunity. AFP educates and engages citizens in support of restraining state and federal government growth and returning government to its constitutional limits. For more information, visit www.americansforprosperity.org.