MADISON (WKOW) -- A new Legislative Fiscal Bureau report shows the University of Wisconsin System finished fiscal year 2012 with nearly $650 million sitting in reserve, including $414.1 million in surplus tuition dollars.
The bureau released a memo Friday saying the tuition surplus was $212.8 million as of mid-2009 and $393 million as of mid-2011.
Republican legislative leaders issued a statement blasting UW System administrators. They questioned how the system could justify raising tuition in recent years in light of the surplus and vowed to include a two-year freeze on tuition in the 2013-15 state budget.
Base tuition across the system's four-year schools went up 5.5% annually between mid-2009 and mid-2012.
Also Friday, UW System President Kevin Reilly proposed 2% tuition increases for both the 2013-14 and 2014-15 school years, a smaller increase than in recent years.