Cash Flow Update [8/16/10]
August 16, 2010
Dear Campus Community:
In recent weeks, the University has been reimbursed $10 million from the state of Illinois for FY'10 expenditures; however, we are awaiting reimbursement for the remaining $6 million of the FY'10 appropriated budget. We are very appreciative of the state's efforts to finalize FY'10 appropriated reimbursements.
As I have communicated to the University community in past announcements, our FY'11 budget has been reduced by 6.2 percent by the state of Illinois, and we do not know when reimbursements for FY'11 expenditures will begin; therefore, we must continue to control expenditures during FY'11. Please also remember that the borrowing authority approved by the legislature and the governor was only for FY'10. Due to the recent reimbursements, we will not have to use this option. At this time, we do not have borrowing authority for FY'11. For a complete listing of the University's expense prioritization procedures, including information regarding travel and other areas of expenditures, visit wiu.edu/budget/news (or click on Budget link at the bottom of wiu.edu ).
Our primary goals continue to be to provide quality, affordable academic programs and resources to our students and to meet our payroll obligations. We will continue to keep the campus community updated about the FY'11 budget and cash flow. I appreciate your support and commitment.