U Of I Administrators Pushing Performance-Based Funding Plan
University of Illinois President Timothy Killeen is again pushing a plan for the state to agree to multi-year budget for the school in exchange for controls on tuition increases and other benchmarks. He previously discussed the idea as a way to provide financial stability as the state continues to struggle with its budget crisis.
U of I spokesman Tom Hardy says state Sen. Bill Cunningham (D-Chicago) and state Rep. Michael Zalewski (D-Riverside) planned to introduce legislation Wednesday that would put that plan into action.
The bill would set the state appropriation for the university's three campuses for five years. But Cunningham told the News-Gazette that the Investment, Performance, and Accountability Commitment will likely not be taken up by legislators until the next General Assembly convenes in January.
It would start at $662 million and increase annually by the rate of inflation. Killeen will discuss the benchmarks plan in Thursday's U of I Trustees meeting in Chicago.
In exchange the school would commit to raising tuition only by the rate of inflation and providing certain levels of financial aid.