News coverage: Regents discuss budget during Thursday meeting
The UW System would sustain $202 million in cuts, funding transfers and expenses if the budget OK’d by the Joint Finance Committee is approved by the state legislature, according to a new System analysis shared during Thursday’s (June 6) Board of Regents meeting at UW-Milwaukee. The System’s review shows the anticipated net loss of funding would be $183.8 million over two years, including $28.7 million for new initiatives, $42.4 million for debt service, $20.8 million in new money for ongoing expenses, and a state funding base cut of $65.7 million, according to a story from the Milwaukee Journal Sentinel. The System also would be required to transfer $58.3 million for new financial aid. And while System employees still could receive $89.4 million for possible salary and benefit increases (the same as potential increases for other state employees), the UW System would not receive added flexibility for awarding compensation increases, the story says.