Chicago State University Declares Financial Crisis Due to State Budget Mess
via Chicago Tribune
Chicago State University declared a financial crisis Thursday, laying the groundwork for a plan that could include significant cuts at the South Side public institution.
The move not only opens the door to fire employees and take other extreme action but also sends a message to Springfield, where a budget impasse has meant colleges have gone without state funding for more than seven months. Chicago State officials previously had said there would not be enough money to pay employees come March, but new President Thomas Calhoun Jr. on Thursday declined to lay out a ‘doomsday’ date.
With a decidedly quiet and somber crowd watching, trustees unanimously approved a motion to declare the school in ‘a university-wide state of financial exigency,’ the term used in academia that equates to a financial emergency.”
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