U. of Ill. spending its cash reserves while it waits for $475 million from the state - Associated Press

The University of Illinois is spending a pool of easily accessible cash to pay its overdue bills while it waits for the state to come through with $475 million in overdue appropriations. Doug Beckmann is the university's senior associate vice president for business and finance. He says the university is using the $800 million to whittle away at $3.8 billion in bills.