• Wisconsin Business News

April 26, 2013

Chancellor Lovell says UWM does not have large, uncommitted cash reserve

In a recent letter to University of Wisconsin-Milwaukee faculty, staff and students, Chancellor Michael Lovell said he wanted to make it clear that UWM does not have a large, uncommitted cash balance.

Lovell was responding to reaction from a report from the Legislative Fiscal Bureau last week that revealed the UW System had $648 million in reserve at the the end of the last fiscal year.

Lovell stated in the Wednesday letter that UWM’s cash balances, held centrally as well as in the divisions andâ;€¦;

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