Saturday, October 17, 2015

Pennsylvania state-owned universities might get cash advances if budget impasse endures - Bill Schackner, Pittsburgh Post-Gazette

The board that oversees Pennsylvania’s 14 state-owned universities is expected to decide Thursday whether to make $200 million in cash advances available to the campuses should the commonwealth’s ongoing budget stalemate render schools unable to pay bills. The money, if eventually needed, would come from the State System of Higher Education’s investment portfolio. It would be restored once the 2015-16 state appropriation to the system, now more than three months overdue, is finally set, officials said.

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