In a series of two preprints, Y.-P. Lee studied relations satisfied by all formal Gromov-Witten potentials, as defined by A. Givental. He called them "universal relations" and studied their connection with tautological relations in the cohomology ring of moduli spaces of stable curves. Building on Y.-P. Lee's work, we give a simple proof of the fact that every tautological relation gives rise to a universal relation (which was also proved by Y.-P. Lee modulo certain results announced by C. Teleman). In particular, this implies that in any semi-simple Gromov-Witten theory where arbitrary correlators can be expressed in genus 0 correlators using only tautological relations, the formal and the geometric Gromov-Witten potentials coincide. As the most important application, we show that our results suffice to deduce the statement of a 1991 Witten conjecture on r-spin structures from the results obtained by Givental for the corresponding formal Gromov-Witten potential. The conjecture in question states that certain intersection numbers on the moduli space of r-spin structures can be arranged into a power series that satisfies the r-KdV (or r-th higher Gelfand-Dikii) hierarchy of partial differential equations.