TALLAHASSEE, Fla. — Florida Gov. Rick Scott is cautioning university presidents over how they spend money that legislators gave them.

Scott on Wednesday sent letters to the presidents of 12 state universities regarding $120 million that was set aside for schools to revamp the state’s higher education system.

The Republican governor vetoed the overhaul (SB 374) that was a top priority for Senate President Joe Negron. But he did not veto the money attached to the legislation.

Scott’s letter asks universities to spend their share of $120 million “judiciously” on initiatives that will help students avoid debt and help them get a job. Negron’s bill had called on universities to spend the money to hire top-quality faculty and to improve graduate programs.

The governor’s letter warns that the money may not be set aside next year.