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Cinnamon

Chicago State, preparing for layoffs, tells employees to turn in keys

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 In a dramatic sign of how Illinois' budget crisis is affecting higher education, Chicago State University officials are telling all employees and students to turn in their keys.

The unusual request for employees to hand over their keys to campus buildings and offices by next week comes as the university, which serves mostly minority and low-income students, said it must prepare for possible widespread layoffs to begin as early as April 30.

The South Side public university, like all public higher education in Illinois, has not received state money for nearly 10 months as a budget impasse in Springfield shows no sign of ending. But the budget situation is most dire for Chicago State; it will not have enough money to cover payroll after April and could be forced to lay off a significant number of employees.

Unlike more financially stable public schools such as the University of Illinois or Southern Illinois University, about one-third of Chicago State's budget — about $36 million — comes from the state, and the school doesn't have a large enough endowment or cash reserves to keep it afloat.

"We have enough cash to make payroll through April 30, and then the operating dollars are no longer sufficient," university spokesman Thomas Wogan said. "We are working toward a solution in multiple facets."

http://www.chicagotribune.com/news/local/breaking/ct-chicago-state-keys-budget-crisis-20160329-story.html

See how socialism isn't working? They can't milk the citizens of Illinois enough to fund all the things they want funded. And they are still trying to get people to sign up for classes.  

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Why would you sign up for classes at a bankrupt university? If they can only make payroll through April 30 then they are DONE. These are Obama's people, champions of socialist paradise where you operate on other people's money until you break them and then surprise! there's nothing left to steal.

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