The University of Wisconsin-Madison is lobbying Wisconsin lawmakers in an attempt to gain more financial independence, with state budget talks underway, The Capital Times reports. The university is seeking the authority — which currently rests with the state — to borrow money for construction projects that are funded by UW-Madison and do not involve state tax dollars.
University officials have said that UW-Madison is the only Big Ten school and one of just two flagship universities nationwide without some form of bonding authority, so the change would bring it more in line with peer institutions.
An 18-member legislative study committee was tasked last year with examining the future of Wisconsin’s public universities, and most of the group recommended that the Legislature look into granting some level of bonding authority to UW-Madison — with certain guardrails, however, such as limiting the authority to projects within a certain cost.
Assembly Speaker Robin Vos said at a UW-Madison event last month that he is concerned that the state would be on the hook if the university were unable to repay its debts.
