5-7-14 uw system reserves policy

MADISON, Wis. (AP) — The Legislature's finance committee has approved a revised surplus policy for the University of Wisconsin System. Republican lawmakers froze tuition in response and required the system to develop a policy governing how much cash campuses can have on hand. The system's plan calls for schools to finish each fiscal year with tuition and student fee surpluses of at least 10 percent of expenditures and justify surpluses of more than 15 percent.