Joint Committee on Audit to Meet Wednesday

capitol dome interiorThe Joint Committee on Audit will hold a public hearing on University of Wisconsin program revenue balances at 11 am on Wednesday, November 20. The hearing will be held in Room 417 North (GAR Hall) in the State Capitol. It is open to the public.

The committee, chaired by Senator Robert Cowles (R-Green Bay) and Representative Samantha Kerkman (R-Powers Lake), will discuss the recently-released Legislative Audit Bureau (LAB) report, Level of Commitment for University of Wisconsin Program Revenue Balances.

The LAB report found that almost 19 percent of program revenue balances in 2012 were undesignated, including $112 million at UW-Madison. Vice Chancellor for Finance and Administration Darrell Bazzell told The Capital Times that a portion of federal research funding for overhead costs was held back in anticipation of future cuts in federal funding. Bazzell also said the university is developing a spending plan for that money.

The hearing will also include a discussion of UW System’s plan for calculating program revenue balances and reserves.

Live audio of the hearing will be available here.