University of Wisconsin chancellors warned on Monday the version of the budget approved by the state Assembly would require them to offer fewer courses, increase class sizes and delay building projects if enacted.

The chancellors joined Gov. Jim Doyle in denouncing the budget which gives $120 million less than they say that they need to continue operating current programs.

Overall, the Assembly budget would increase UW System funding over the next two years by $62 million. But chancellors said that's not enough to cover rising costs for the salary and benefits of employees and energy costs, among other obligations.

David Wilson, the chancellor of UW Colleges and UW-Extension, said that the funding shortfall would be devastating.

He said that the two-year UW Colleges would lose about 30 faculty positions and be forced to cut English, history and math classes.

UW System President Kevin Reilly said that the proposed budget will be heading in the wrong direction, WISC-TV reported.

"If we decide that college is only for rich people, we're going to leave so much talent behind in this state that it would tragedy of proportions you couldn't even describe," he said. "These are letters, e-mails, editorial endorsements from business and community leaders, student leaders all over the state saying we want you to re-invest in the University of Wisconsin."

Right now, a special committee of lawmakers is trying to find compromise between the versions of the budget passed by the Assembly and the Senate.