- Campus Life
- Admissions + Aid
- Athletics + Arts
- Alumni + Partners
- About Us
Thursday, Oct. 9, 2014, the University of Wisconsin System will present an extensive, transparent report to the Board of Regents detailing $175 million in reserves.
At the University of Wisconsin-Parkside, we do not have reserves. Approximately five years ago, as part of sound financial stewardship, we began addressing structural issues relating to our budget. Our administrative team worked to develop a financial plan spanning the next six years. Key elements of the plan include stabilizing enrollment, realizing savings where possible, and securing assistance from UW System.
As we shared with campus a few weeks ago:
The UW System report details $711 million in obligated and planned expenses, and $42 million designated for campus-specific aspects of the UW System Talent Development Initiative. Here at UW-Parkside, 99 percent of our program fund balance is planned, obligated or designated.
There is a negative balance in our auxiliary fund mainly due to the debt service on our three residence halls. Prior to adding Pike River Suites, the university was operating above full occupancy in Ranger Hall and University Apartments. Our financial plan takes into account that Pike River Suites will not immediately be at full occupancy. The auxiliary fund balance will continue to move toward a positive balance as we approach full occupancy and the debt service on each building is retired.
As UW System President Ray Cross mentioned earlier this week, Parkside is one of five institutions with cash-flow challenges and that each location has a good plan in place and UW System is working diligently with each campus.
Regardless of the financial challenge, the entire campus community is willing to do what needs to be done in order to build a financially strong and sustainable UW-Parkside. For close to 50 years, tens of thousands of students have counted on us to help transform their lives. UW-Parkside faculty and staff will meet the challenge together and continue the "Real. Amazing." tradition of affordable and accessible higher education for our students in southeastern Wisconsin and beyond.