superman7515
July 5th, 2010, 08:27 AM
After reading this article, I personally am wondering if there have been any rumors at Illinois State or the directional schools that play FCS football.
Illinois Facing 'Outright Disaster' Amid Budget Crisis (http://www.msnbc.msn.com/id/38072919/ns/business-the_new_york_times/)
"For the last few years, California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession.
Now Illinois has shouldered to the fore, as its dysfunctional political class refuses to pay the state’s bills and refuses to take the painful steps — cuts and tax increases — to close a deficit of at least $12 billion, equal to nearly half the state’s budget."...
"Public colleges and universities occupy a fiscal sickbed all their own. This year they muddled through without $668 million expected from the state; the University of Illinois has yet to receive 45 percent of its state appropriation.
Legislators made no pretense of promising to pay this bill soon. Instead they authorized colleges to borrow against the expected state payments.
“The big fear is that next year we’ll be down twice as much,” said Randy Kangas, an associate vice president of the university. “No one knows how to make the cash flow work.”
Illinois Facing 'Outright Disaster' Amid Budget Crisis (http://www.msnbc.msn.com/id/38072919/ns/business-the_new_york_times/)
"For the last few years, California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession.
Now Illinois has shouldered to the fore, as its dysfunctional political class refuses to pay the state’s bills and refuses to take the painful steps — cuts and tax increases — to close a deficit of at least $12 billion, equal to nearly half the state’s budget."...
"Public colleges and universities occupy a fiscal sickbed all their own. This year they muddled through without $668 million expected from the state; the University of Illinois has yet to receive 45 percent of its state appropriation.
Legislators made no pretense of promising to pay this bill soon. Instead they authorized colleges to borrow against the expected state payments.
“The big fear is that next year we’ll be down twice as much,” said Randy Kangas, an associate vice president of the university. “No one knows how to make the cash flow work.”