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New UW chancellor talks reserve funds

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Photo: Video by nbc26.com

New UW chancellor talks reserve funds

By Deandra Corinthios. CREATED Aug 21, 2013

MADISON, WI --A new school year means new chancellor for the University of Wisconsin system.

Rebecca Blank has been chosen to lead the flagship of University of Wisconsin.

Blank says leaders in the UW system were not as transparent as they should have been when they raised tuition, while keeping a hundreds of thousands of dollars in surplus on hand.

"The state slapped us in the budget process and perhaps that was appropriate. Even at the levels that we have been at, we are below many of our peer institutions for a level of reserves and if you get too low, that is dangerous. So, I will argue that we need to hold reserves, but we need to be very transparent about that," said Blank.

Blank is the former acting United States Secretary of Commerce.