Oct 20, 2012
Sen. Maralyn Chase
commented on The Stranger Election Control Board’s Endorsements For the November 6, 2012, General Election
Vote NO on SJR 8223: For the first time in our state's history the UW and WSU would be allowed to invest surplus operating funds in private companies. Not a wise policy. Your editorial board ought to ask: Why do they have $1.2 billion in surplus operating funds in the first place? Where did they get it? Did they capitalize their Central Bank by raising tuition 107% in the last five years? Of course: the surplus is needed by their Central Bank as bond reserves which guarantee the bonds and bond ratings for their capital expansion projects. In this process they are throwing away an entire generation of young students by saddling them with crushing debt.
Surplus operating funds could be used to lower the debt burden of students; or hire faculty and teaching assistants; lower class sizes, increase class offerings. Remember the education mission? Since the UW has such a large surplus they certainly don't need to come to the legislature crying poor. $1.2 billion dollars in surplus operating funds in a $6 Billion budget is not too bad... . Perhaps the legislature should sweep those accounts when we look for money to pay for our paramount duty. Vote NO on 8223. See: http://www.publicmission.org