State U's Sitting on Big Surpluses

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Lawmakers Question Funds

(KCPW News) Utah's institutions of higher ed are sitting on millions of dollars of unspent state funding, and lawmakers are wondering why. House Majority Leader Dave Clark says the revelation - made during a legislative committee

"Does the University of Utah need to have a certain amount of funds on hand? I think that's appropriate. The question is, is it the right level?" asks Clark.

The University of Utah has a thirty million dollar surplus. Utah State University is sitting on 22 million extra dollars. Lawmakers wonder why the schools need to accumulate extra money when the state already has a rainy day fund to handle emergencies. University officials attribute the surpluses to unusual circumstances. Representative Clark says legislative leaders have asked for a detailed explanation of the money:

"I think we vented questions, we're waiting now for the answers. And I can almost promise you with each answer will come another set of questions," says Clark.

If lawmakers aren't satisfied with the answers, Clark says the next step could be a full-fledged audit by the legislature. According to the legislative fiscal analyst, several dozen state departments and public colleges have a total of about 200 million dollars in unspent funds.

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