University of Illinois trustees were told at their meeting in Chicago that the new state budget has funding for the new fiscal year and the fiscal year just concluded, but not enough to make up for all the losses that the university suffered during the two-year-long budget stalemate
State law requires the University of Illinois to submit a budget by the end of the fiscal year. But it's not clear what's coming from the state, if anything, due to the budget impasse. In a U of I Trustees committee meeting Monday, Chief Financial Officer Walter Knorr said the school will rely on its fiscal 2015 figure when submitting its budget plan for FY 2017.
Squeezed by four months with no state spending plan, University of Illinois trustees approved a resolution urging Gov. Bruce Rauner and legislators to pass a budget for the current fiscal year.
The U of I's chief financial officer told Trustees Thursday that the budget standoff in Springfield will mean the board can't vote on a budget at its November meeting either, saying a 60 day window is needed.
University of Illinois Chief Financial Officer Walter Knorr said the state budget stalemate has brought grant-funded research to a halt, and making it hard to plan a salary program for the fiscal year.
