The Western Illinois University Board of Trustees has authorized the administration to borrow up to $2 million from the institution’s foundation.
“The university’s cash position remains of concern after multiple years of operating deficits,” Ketra Roselieb, WIU’s Vice President for Finance and Administration, told the board during their meeting this week.
The money would be used to fund university operations.
The administration has not decided whether the action will be necessary.
Trustee Carin Stutz asked Roselieb about the administration’s plans.
Stutz: “This will be the last resort, we will have exhausted everything else, right?”
Roselieb: “Yes. We will take other measures first and foremost, before we would exercise this, that would incur additional costs, even though they are low-interest. We don’t want to have to do this.”
A bill passed by the Illinois legislature this year and signed by the governor allows WIU to borrow from its foundation. The law goes into effect Jan. 1, 2026.
Also during the WIU board’s discussion, Trustee Erika Lowe Mullins suggested the foundation develop a general unrestricted endowment that would generate sustained revenue.
“That’s an essential component that we have not yet tapped into here,” Lowe Mullins said. “An unrestricted endowment would be a game changer for the university.”
She said private colleges in particular rely heavily on endowments.
Tri States Public Radio produced this story. TSPR relies on financial support from our readers and listeners in order to provide coverage of the issues that matter to west central Illinois, southeast Iowa, and northeast Missouri. As someone who values the content created by TSPR's news department please consider making a financial contribution.
