January 24, 2014
IBHE recommends level funding for Fiscal Year 2015; includes investment levels for additional funding
Springfield –The Illinois Board of Higher Education (IBHE) will make Fiscal Year 2015 budget recommendations at the Board meeting on February 4, for all higher education agencies and programs, including financial assistance, to be presented to the Governor and General Assembly. The proposed budget maintains level funding for Illinois public campuses’ operations, and includes recommendations for capital expenditures. The budget includes four investment levels, or steps, with new funds recommended to replace the loss of federal and state funds over the last five years. Funds for financial assistance to low-income students through the Monetary Award Program (MAP) are protected in Step 1, and increased in the remaining three steps.
The Board is prepared to adopt a proposed budget that is realistic about Illinois’ current fiscal conditions and the pending expiration of the temporary income tax increase, but maintains the State’s commitment at last years level. This proposed budget continues to incorporate performance funding and recommends that a portion of new funding for public universities be allocated based on performance. Funding for MAP for our neediest college students also continues to be an important priority," Lindsay Anderson, IBHE Chair, said. The budget appropriations for Step 1 ensure that necessary administrative funds and federal grant matching fund requirements are supported. However, past years have been very lean, and the Board wanted to identify where additional investments in campus operations, including deferred maintenance, MAP, and grant funds would be prudent as outlined in three additional steps.
The IBHE will meet at 1 p.m. on February 4, at the Christopher Center at Concordia University in River Forest.