* Tri States Public Radio…
The Western Illinois University administration will borrow $2 million from the WIU Foundation on April 1.
Ketra Roselieb, WIU Vice President for Finance and Administration, said daily cash on hand remains at a critical level.
“The university appreciates the foundation’s extension of this partnership and its approval of a distribution from unrestricted endowment to fund this loan, which will come with temporary cash flow shortages while the university continues to implement our significant budget adjustments,” Roselieb told the WIU Board of Trustees during its March 12 meeting. […]
She did note the Illinois comptroller’s office has been prompt with all reimbursements thus far this year.
BoT Vice Chair Carin Stutz said it appears expenses for this fiscal year will come in closer to $180 million rather than the projected $189 million. She lauded the financial stewardship of the administration and faculty. She said every department is being accountable and working together.
“It’s nothing short of incredible. This will be a case study for universities one day. It absolutely will be,” Stutz said.
- Mr. Middleground - Monday, Mar 16, 26 @ 11:22 am:
WIU and other regionals are slashing budgets. They are down to the bone. Any extra money found to put toward new recruitment, retention and workforce program expansions is being gobbled up by critical, emergency deferred maintenance. It is long past time for the State to step with the new funding formula. WIU has done its part.
- 47th Ward - Monday, Mar 16, 26 @ 11:47 am:
===It is long past time for the State to step with the new funding formula.===
Or, hear me out, maybe it’s time to do something different. There isn’t enough tax money to support all of the public universities. It might be time to use WIU as a pilot for a new model of post-secondary education. Get it out of inter-collegiate athletics. Stop producing mediocre research. Incentivise adult education, career education, regional job training, and even remedial education.
Higher education is undergoing the most serious disruption of the last fifty years. The future of universities will look very different from the past. The state should use this moment to try something new. Sending more money to a failing institution is not the best use of scarce resources.
This is the time to experiment, and WIU could be a good test case for a new model of public university.