UW Regents learn of extra $1.1M lost
MADISON, Wis. (AP) -- The University of Wisconsin System has lost an additional $1.1 million due to glitches in its new payroll and benefits system.
An accountant and top UW System financial official told the Board of Regents of the extra loss Thursday. System President Kevin Reilly warns that further reviews this year by system staff, an independent analyst and the state auditor are "likely to find more issues."
A recent routine audit by the state found the UW System made $33 million in overpayments for health insurance premiums and pension contributions over the past two years. The UW System has since recovered about $20 million.
The Wisconsin State Journal (http://bit.ly/WSn9Dq) reports regents criticized UW System officials for the errors.
Regent Gerald Whitburn says the problems are broader than what regents were initially told.
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