The costs come from added COVID-19 precautions and testing, as well as lost revenue from lost housing and other fees. The University of Illinois System Board of Trustees on Thursday approved a budget for the 2021 fiscal year that includes a $270 million projected loss due to COVID-19. The $6.74 billion budget is about $230 million lower than the previous year’s budget of $6.97 billion, officials said in a press release. The university system plans to use $121.3 million in reserve funds to address some of the COVID-19 costs.
