UW President Nichols says budget sweep was 'premature' - Seth Klamann, Casper Star-Tribune

University of Wyoming President Laurie Nichols said the board of trustee’s decision to sweep $140 million from across campus was “premature” and came before the administration had a full understanding of the funds. “We didn’t have our arms around them,” Nichols said in a recent interview with the Star-Tribune. The board decided to sweep the accounts — up to a thousand of them — last summer, taking as much as $140 million from them and placing the money into a handful of centralized, board-controlled pools. The move sparked an outcry from faculty members, who saw money that — in many cases — they had generated and could control, vanish. The funds came from a variety of sources and filled a variety of needs. The university’s student government had its reserve accounts swept, for instance. Some of the dollars were federal grants. http://trib.com/news/local/education/uw-president-nichols-says-budget-sweep-was-premature/article_91dd114b-373c-52c3-9e23-40d856150276.html