University News
Cash Flow/Budget Update
September 24, 2010
Dear Campus Community:
I am pleased to announce that earlier this week, the University received the final Fiscal Year 2010 reimbursement from the state in the amount of $6 million.
While we are most appreciative of the state's efforts to finalize FY'10 appropriated reimbursements, we have not yet received any Fiscal Year 2011 reimbursements, which total $12 million thus far. Therefore, we must continue to control expenditures in order to maintain instructional and support services to our students and to meet our payroll obligations, which remain our primary commitments. However, given the state's final reimbursement for FY 10, we will release the remaining FY 11 budget minus our 3.5% reduction in the coming week.
Despite a bleak Fiscal Year 2011 budget picture, I am happy to report that just last week, Western received an unexpected increase in Federal Work Study funding of $200,000. Financial Aid staff had submitted an application for additional funding. However, we did not expect the funding amount that was received. This increase has allowed the University to employ 212 students, which is the same number of students as the last academic year. In addition, Western received a slight increase in Supplemental Educational Opportunity Grant funding from the U.S. Department of Education, which will help employ a small number of additional students.
We will keep the campus community informed as we receive updates from the state, and we will continue to work with the Comptroller's Office, our legislators and other university presidents and chancellors to resolve the ongoing cash flow delay.
I greatly appreciate your continued support and understanding.
Sincerely,
Al Goldfarb
President
Posted By: University Communications (U-Communications@wiu.edu)
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