UW-Parkside Faces Potential $1.5 Million 'One-time Giveback'

The University of Wisconsin-Parkside may have to give back $1.5 million over the next two years to the state, according to a story by the Racine Journal Times.

The reason the money was allocated in the 2011-13 state budget was because no one knew what to cut. So the unallocated funds are supposed to be handed back to the state and university officials need to figure out where the cuts are coming from, according to the story.

David Giroux, a UW System spokesman, told Lindsay Fiori, of the Journal Times: “The state budget contained a relief valve, a safety valve, so if revenues the state was taking in weren’t what they hoped for, the administration could pull back some of those funds already allocated. So that’s what’s called a lapse. It’s a one-time giveback,” Giroux said.

The proposal still needs to be approved by the Department of Administartion.

Here's the full story:Parkside could lose $1.5m in state funding for this year and next