After months of deliberation, the University of Wisconsin-Platteville has identified $3.7 million in cuts and transfers toward the $10 million goal, leaving most of the remaining $6.3 million to be determined.
Although $4.4 million of the $10 million goal was identified in an April 15 memo from the Office of the Chancellor, a $4.6 million total was announced at the budget open sessions on April 21.
“At the end of the day, that [the $4.6 million addressed and using cash on hand for the next year or so] takes us to a little less than $7 million,” Chancellor Dennis J. Shields said.
Phase two of the three-phase plan includes an increase in Tri-State Initiative tuition and projected savings from the voluntary separation incentive program. Increasing TSI tuition by $600 per student will provide an additional $900,000 in relief, stated in Shields’ memo, while the Voluntary Separation Incentive Program Announcement is projected to save $700,000 annually, according to the VSIP Announcement.
The VSIP gives faculty and staff the opportunity to retire early. In order for faculty and staff to be eligible, they must be a current staff member, at least 55 years old, able to receive a Wisconsin Retirement System annuity and have worked for the university for at least five years as of June 30, 2015.
As stated in the VSIP policy, “the Chancellor retains sole discretion over the eligibility and approval of any given VSIP offering and/or application.”
This program would allow for the reduction of salary, wage and benefit costs to help offset the current budget situation, the policy stated, with the final decision in the hands of the chancellor. Shields has the final say and non-approval is contingent upon “a number of different reasons,” the letter stated, including the occasion that all members of a department are eligible and apply for the VSIP, forcing staggered departures to avoid a completely vacant department.
UW-Platteville’s budget proposal now lies in the hands of the UW System. As the university addresses the $5 million structural deficit already in place it awaits the proposed budget cut, which is contingent upon the legislature’s approval of and the university’s share of the governor’s proposed $300 million budget cut to the System, to be determined by the State Legislature by the target Memorial Day weekend.