Audit: UW System generated nearly $5 billion in fiscal year

Audit: UW System generated nearly $5 billion in fiscal year

A new audit shows the University of Wisconsin System generated nearly $5 billion in revenue during the last fiscal year, down slightly from the year before.

The Legislative Audit Bureau released a report Friday that found that during the year that ended June 30, the system brought in $4.9 billion in revenue, down from $5.1 billion in the previous year. Student tuition and fees totaled $1.13 billion in 2013-14, down 3.1 percent from 2012-13 thanks largely to a tuition freeze legislators imposed.

The system’s expenses for the last fiscal year totaled $4.8 billion, including $3 billion for salary and benefits.

The system had $1.2 billion generated through program revenue on hand. Most of that — $973.3 million — came from funding sources that don’t have a restriction on their use.