Friday, September 4, 2015

UI still waiting on state budget - Maggie Sullivan, Daily Illini

Negotiations on a state budget for fiscal year 2016 are at a standstill in Springfield and Walter Knorr, University chief financial officer, said if the state does not act soon the University won’t have a finalized budget for the Nov. 12 Board of Trustees meeting. “I make no prognostication or comment on when the budget will come,” Knorr said at the Board of Trustees Budget, Audit and Finance committee meeting Monday. “We probably need 60 days once the state has acted to put an operating budget together.” The University is currently operating under the assumption the budget will be similar to fiscal year 2015 budget. The total operating budget for fiscal year 2015 was $5.6 billion, according to the Fiscal Year 2015 Annual Operating Budget Executive Summary. Additionally, Knorr said, the state still owes the University $49 million in appropriations for fiscal year 2015.

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