Sequestration puts pressure on UI budget - Mike Helenthal, UIC News

Pressures on the university’s budget will continue to increase in the coming year. That was the forecast from Walter Knorr, university vice president and chief financial officer, at the March 7 U of I Board of Trustees meeting in Urbana. Knorr said sequestration, across-the-board cuts designed to reduce the federal budget by $85 billion, could cost the university as much as $60 million in lost research funding next year. So far the impact has been minimal, Knorr said, but that could change as specific funding reductions are announced. “It will be some time before we know the full magnitude of the cuts,” said U of I President Bob Easter. http://news.uic.edu/sequestration-puts-pressure-on-ui-budget