The regents will discuss the 2013-15 biennial budget and approve UW System’s 2013-14 operational budget Thursday morning. As a result of the biennial budget, UW System faces a $65.7 million base cut over the next two years. UW-Madison’s share of the base cut is approximately $20 million. The budget also requires UW System to fund $75.6 million in one-time expenses, including $3.75 million for the Carbone Cancer Center and $1.5 million for the Wisconsin Academy of Rural Medicine.
Regent committees will meet Thursday afternoon. The Business, Finance, and Audit Committee will discuss the Flex Option degree program, review and vote on a proposed methodology for dealing with program fund balances, and review and vote on a pay plan policy document.
UW System was required by the legislature to develop a fund balance plan after $1 billion in financial reserves was discovered in April. The legislature also revoked the authority for UW System and UW-Madison to develop their own personnel systems, forcing the Regents to develop a pay plan policy.
The committee will recommend a Flex Option plan that allows an “all-you-can-learn” model that includes multiple assessments and student services including advising and tutoring for $2,250 for a three-month term. An assessment-only pricing structure is under discussion.
General Electric CEO Jeffrey Immelt will address the board on Friday morning. Immelt is scheduled to deliver a talk, “Leading the Productivity Revolution.” GE announced a $32.9 million investment in a state-of-the-art imaging research facility on the UW-Madison campus last fall. The School of Medicine and Public Health and the Wisconsin Alumni Research Foundation are partners in the 10-year effort.
ETA: The Regents voted Thursday morning to freeze tuition for all students, including graduate, professional, and non-residents.