Indiana University board OKs plan for no pay hikes - Associated Press

A new Indiana University budget plan that doesn't include money toward employee pay raises for a second straight year was approved Friday by the school's Board of Trustees. The overall $1.7 billion budget for the university's eight campuses around the state includes a $29 million, or 6 percent, reduction in state funding under cuts ordered by Gov. Mitch Daniels because of tax revenue shortfalls. The budget's planned 0.7 percent increase in operational spending will be the smallest in several decades, said Neil Theobald, IU's vice president and chief financial officer.