IL Universities Make Plea for Owed State Money
Leaders of Illinois' public universities are making a unified appeal for the money the state government owes them.
Illinois has been trying to deal with a deep budget deficit by putting off payments to creditors - including nearly three quarters of a billion dollars to higher education.
University of Illinois interim president Stan Ikenberry says his institution is 431 million dollars in debt because of the lack of payments, and leaders owe it to the people of Illinois to find a solution. He says that solution will include painful budget cuts.
"And it's going to require revenue increases. Very unpleasant, very difficult for any public leader lawmakers to think about," Ikenberry said. "But I think both cuts in expenditure and revenue increases will be essential before any solution can be brought about. The third essential element will be some strong leadership and bipartisan cooperation."
Ikenberry says the financial crisis is not a total surprise because the state's fiscal situation has been in decline for nearly eight years, but he's surprised that's it's gotten as bad as it has.
Several other university leaders joined Ikenberry at a Chicago press conference to call for the state money to be released.