Eastern receives $6 million in state funding
The leaky faucet of Illinois’ finances has splashed a little more into Eastern’s budget bucket.
The university received an additional $6 million in state-appropriated funding. To date, the university has received $17.5 million. Eastern’s total appropriation for fiscal year 2010 is $50.6 million.
“We’ve received a little more than a third,” President Bill Perry said.
The university has vouchered $40.9 million of its appropriation to the comptroller’s office so far.
“Vouchered means we’ve sent something in saying we’ve spent money,” Perry said.
The state continues to drag its feet in making payments to all publicly funded institutions from health care to elementary schools.
Eastern has implemented emergency cost-savings measures, including a freeze on hiring and new equipment purchases, in order to meet its financial obligations.
“Any extra money that comes in helps us get further along in terms of our cash flow, having money to do business with,” Perry said. “It’s very positive that the state has been able to send us these payments.”
The university’s appropriation for fiscal year 2011 is unknown, but the university is preparing itself for a reduction in funding.
“We need to see what our budget is for next year,” Perry said. “If state revenues drop, then what the university has to do is figure out how to deal with that budget in the long term and meet its goals and accomplish its mission.”
Permanent cost-savings measures include a 4.5-day workweek during the summer. The half-day each week produces approximately $250,000 in annual energy cost savings.
“We’re always looking for ways to be more efficient to cut costs,” Perry said.
Sarah Ruholl can be reached at 581-7942
