Friday, September 25, 2015

NIU trustees approve interim budget with $29M gulf between revenue, expenses - RHONDA GILLESPIE- Daily Chronicle

Northern Illinois University trustees Thursday approved a $389 million interim budget, and the school anticipates a large loss of state funding. The budget, down 8.7 percent from last year’s $426 million spending plan, will be in effect for at least a month, but could last until the next scheduled Board of Trustees meeting Dec. 10. NIU officials hope that by then the state has adopted a budget so the school can finalize its financial plan. “In most years we [NIU] would have a budget by July 1, but we don’t,” NIU President Doug Baker said. “We don’t have a state budget by July 1. So when we put this together, we had to put it together with our best estimates of what our revenues are going to be.”

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