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Committee approves amendment to sweep excess UH tuition fund balances after university seeks alternatives
Summary
The House Higher Education Committee voted to pass SB2602 with amendments after University of Hawaii officials opposed an immediate sweep of the tuition-and-fee special fund; the bill now limits the sweep to balances above a two-month reserve and requires a report on drawdown plans by 2027.
The House Higher Education Committee on March 25 passed SB2602 with amendments that delay and limit a proposed sweep of the University of Hawaii's tuition-and-fee special fund.
Luis Oliveria, vice president and chief financial officer of the University of Hawaii, told the committee the fund's current balance is $351,622,400 and that the university maintains a reserve policy equivalent to roughly 16% of general operating expense (about two months). "The current balance of the special fund right now, the tuition of this special fund is 351,622,400," Oliveria said in testimony…
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