New UW System president wants to clarify finances - WKOW 27: Madison, WI Breaking News, Weather and Sports

New UW System president wants to clarify finances

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MADISON (WKOW) -- Ray Cross, the new University of Wisconsin System president, says his top priority is to help regents understand the system's finances.

Cross addressed the regents Thursday morning for the first time since taking over the president's position in mid-February.  He has pledged more transparency in the system's finances, this after Republican legislators criticized system officials last year allowing campuses to quietly accumulate reserves while raising tuition.

He says the UW System must do a better job communicating its financial situation.  He said he wants to help everyone gain a basic understanding of the finances, provide a campus-by-campus breakdown of reserves, put out quarterly financial reports, and include a projection of year-end cash balances in upcoming budgets.
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