“UCONN Financial Situation: Effect of the Expected Decline in the State Appropriation”
Howard Bunsis, Professor of Accounting and Chair of the Collective Bargaining Congress, presented “UCONN Financial Situation: Effect of the Expected Decline in the State Appropriation” to the AAUP Executive and Compensation Committee on March 1, 2015.
Among other valuable information regarding the financial status of the University, was Howard’s contrasting of President Herbst recent statements on the amount of unrestricted reserves the University has with, what in fact is, reality. President Herbst claims that the University has $80 million of unrestricted reserves. According to the University’s audited financial statements of 2014, the University has $130 million in unrestricted reserves. The $50 million difference may be due to whether those reserves are under a “firm contract” or not. If they are not under contract, they can be used for whatever the University determines they can be used for. Below is a graph of the unrestricted reserves for the University for the past 10 years.