From AP - News Headlines -

University of Illinois to Ask for 5 Percent More Money

The University of Illinois plans to ask the state for about five percent more money in the coming fiscal year.

The school plans for its budget to top $5 billion.

A university trustees' committee on Wednesday reviewed plans for a budget just over $5 billion for the 2012 fiscal year. The News-Gazette in Champaign reports that would be 5.2 percent more than the 2011 budget. The proposed budget must be cleared by trustees before it's considered by the governor, General Assembly and Illinois Board of Higher Education.

The state is now $313 million behind on money it owes the university from past appropriations. The state government is unable to keep up with money it has promised universities and other institutions because of a multi-billion dollar budget deficit.

Categories: Economics, Education