Report highlights UW economic impact, retention and grad rates
The University of Wisconsin–Madison has a freshman-sophomore retention rate of nearly 94 percent, and a six-year graduation rate of nearly 83 percent, according to the findings of an annual accountability report received by the UW System Board of Regents last week.
DeLuca
In presenting the report, Provost Paul M. DeLuca Jr. pointed out that UW–Madison exceeded 10,000 degrees conferred for the first time in 2010-11.
“That’s not due to accepting more students per se,” DeLuca said. “What that’s due to is improving the efficiency of the graduation rate. Making more effective use of the resources, making more effective use of the curriculum yields more degrees.”
Of freshman enrolled in fall 2010, 93.9 percent re-enrolled in fall 2011, exceeding the national retention rate of 79 percent by nearly 15 percentage points. DeLuca said it is unlikely that number can be greatly improved upon, and that the goal is to remain in that range.
UW–Madison also tops the national average in six-year grad rates, DeLuca said, with 82.8 percent of fall 2005 freshman receiving a degree within six years. The national mark is 56 percent. UW–Madison’s six-year grad rate is second only to Penn State University nationally, DeLuca said.
DeLuca said the university is also closing the retention and graduation rate gap between targeted minority students and non-targeted minorities, though he said there is still progress to be made. The freshman-sophomore retention rate for targeted minorities is 91 percent, and the six-year grad rate is 69 percent.
The 2011-13 budget bill required reports detailing almost 40 accountability measurements from UW–Madison and a separate report from the balance of the UW System schools. The report will now be sent to the governor’s office and to state legislators.
Among other findings, the report states that the university creates and supports more than 128,000 Wisconsin jobs and generates $614 million in tax revenue.
The university has a $12.4 billion impact on the state’s economy, brought in $808 million in new revenue through research and instructional activity and $1.1 billion for all activity and sources, according to the report. An estimated 2,790 businesses or other organizations received business development support from the university in 2010-11.
In other regent news:
– The board approved a 2013-15 budget proposal seeking an additional $21 million in state funding for new initiatives.
Included in the proposal is funding for the system’s new flexible degree initiative, economic development programs and funding to retain and hire quality faculty and staff.
Gov. Scott Walker issue budget instructions last week to the UW System and state agencies. Walker did not warn the system to plan for cuts to its base budget, and the system was exempted from additional funding lapses for the 2013-15 budget.
The system’s $187 million capital budget request seeks state supported bonding for four major projects, including two at UW–Madison. One proposed project would demolish nearly 40,000 square feet of the Daniels Chemistry building and construct a seven-story, 170,000-square-foot addition. Under the proposal, 35,000 square feet of the existing building would be renovated, and renovate the mechanical systems in the Daniels and Matthews Chemistry buildings.
Also in the capital budget request is to demolish 5,000 square feet of Babcock Hall and 3,200 square feet of Science House to make a 32,500-square-foot addition to Babcock Hall. The request also proposes demolishing several buildings to erect a new 51,600-square-foot Meat Sciences and Muscle Biology Laboratory building.
– The regents also approved UW–Madison’s request to adjust the budget for phase 1 of the Memorial Union Renovation project.
– Also approved was the creation of a bachelor of science in athletic training program at UW–Madison.