UI Positions Itself to Continue Pay Raises Next Year
A week after the University of Illinois announced plans to push for a 3 percent pay raise for its employees, the U of I is budgeting for the salary increases to continue next year.
On Monday, university officials released a preliminary operating budget for fiscal year 2013 during a meeting of the U of I's budget and audit committee. In it, about $33 million would support the merit-based salary hikes across all three campus.
Despite a $312 million backlog in payments from the state, U of I President Michael Hogan said he is confident in the university's ability to move forward with the raises.
"I think we're in very good, very reasonable position on our debt - short and long-term both actually," Hogan said. "Our biggest worry of course remains whether or not we're going to get that overdue funding from the state, 46 percent of our budget."
The raises are slated to start in August, but the University of Illinois' Board of Trustees still has to approve the payments.
The board meets again July 20-21 in Chicago.