http://stream.publicbroadcasting.net/production/mp3/wium/local-wium-946807.mp3
Macomb, IL – Western Illinois University is doing what it can to maintain operations while working around the state's cash flow problems.
President Al Goldfarb said Western wants the authority to borrow money - though he calls it a last resort.
"We've always asked for it (borrowing authority). We believe it is the only prudent thing," Goldfarb said. "None of us like it. We all say that we are holding our nose when we ask for it."
Goldfarb said WIU came close to borrowing money in August 2010. At that point, tuition money had yet to come in, the state had not distributed any cash for the new fiscal year, and it still owed money from the previous fiscal year.
The university is now more than halfway through the fiscal year, which began July 1, 2010. So far it has received $6.6 million from the state but is still owed around $50 million.
Payroll is a key expense. It adds up to $9 million per month.
Goldfarb said other spending will be limited and most vacant positions will be left open. He believes WIU can make it through the fiscal year without layoffs or furloughs.
The university is being helped by tuition income as the spring semester begins, but the school is far from being out of the woods.
"My expectation is we can make it into the spring semester and the next few months, but just as we did last year, we will begin starting to worry as we get into the middle of the spring semester," Goldfarb said.
He said the university will continue to lobby state government to release the money owed. He remains hopeful the money will be sent out but he cannot guarantee when or if that will happen.