UW System Regents approve revenue fund
October 17, 2014
The UW System Board of Regents unanimously approved a System report on the Program Revenue Fund Balances managed by the campuses and institutions within the UW System.
Program Revenues are funds collected at the campuses for tuition as well as for services provided, such as residence halls, food and parking.
Because the funds fluctuate based on factors like enrollment, campuses must utilize long-term strategic planning to ensure these resources are being managed responsibly.
The report includes guidelines and reporting requirements that will make those efforts part of each institution’s budget preparations moving forward.
“We have integrated program revenue fund balances into our budget planning process and into our financial reporting processes,” Cross said. “From now on, the program revenue fund balances will not be a separate conversation, but considered a normal and regular part of our financial discussions and decisions.”
“As we continue to work with our partners in the legislature and the private sector to better serve the needs of our state, this report should provide increased confidence that UW System institutions are monitoring and managing our resources with accountability and transparency,” Regent Vice President Regina Millner said.