Chicago State University Facing Financial Distress
Chicago State University officials say the school will burn through cash reserves and eventually need to make additional cuts.
The Chicago Tribune reports university administrators have been trying to create a balance of acknowledging financial urgency while assuring students that the school's future is strong.
Documents sent to state officials responsible for funding show the school could spend the $26 million in its cash reserves by May and end the academic year with a $3.5 million deficit.
CSU officials say they'll need to make budget cuts unless more money flows from Springfield, but there are currently no plans for state dollars to go to the university next year.
The school receives about one-third of its funding from the state, and has been hit hard by the budget gridlock that cut off regular appropriations for higher education, social services and other areas.