Illinois Central College gets late notice of big funding reduction - Thomas Bruch, Pekin Times

Less than a month before the Illinois Central College board of trustees was slated to adopt the tentative 2015 budget, college officials were informed that it would not receive almost $1 million it had penciled in on the budget. Early last week, ICC officials were notified by the Illinois Community College Board that it would see only about $1 million in equalization funding. According to ICC Vice President of Finance and Administration Bruce Budde, equalization funding is a pool of money available at the state level for community colleges that is designed to compensate for fluctuations in local revenues. http://www.pekintimes.com/article/20140807/NEWS/140809321