MADISON, WI (WSAU) - The University of Wisconsin’s new payroll and benefits system has apparently lost another million dollars.
A University financial official and an accountant reported an additional 1-point-1 million dollars missing to the Board of Regents Thursday. This happened after a recent audit found the UW System erroneously overpaid 33-million dollars for health insurance premiums and pension contributions during the past two years.
The problems are not likely to end. System President Kevin Reilly warned that additional reviews by the state auditor, system staff, and an independent auditor are, “likely to find more issues.” The University has recovered about 20-million dollars, but they don’t know if they can recover the other 14 million they’ve discovered missing so far.