Print Friendly, PDF & Email

Leaders of Illinois’ public universities are thankful for the money the stop-gap funding bill passed by the state’s General Assembly will provide.

But they emphasize that the $600 million is only a fraction of what they need to operate and would not wipe away the consequences of the 10-month state budget standoff.

Comment: Hard to tell whether they “need more” because they perpetually say that. And remember that pension contributions are about half of what we put into higher education.

Read Article

newest oldest most voted
Notify of
J.A. Herzrent
Expenses are primarily compensation for faculty and administrators + expenses related to upkeep of the physical plant (repairs, utilities, etc.). Revenues are tuition and state/federal aid including research grants. Probably other things, but I expect the foregoing comprise the bulk of expenses and revenues. Pensions are for those still working and for those already retired. But whatever goes into pensions is part of the compensation category. I expect we would find that the compensation category is excessive compared to almost any other enterprise other than professional firms (lawyers, CPA’s, doctors) and large corporations. However, the high compensation that is paid to professionals and executives comes with both… Read more »

Great points. You have identified a hidden tax shelter…tenure in public institutions. Maybe IL needs a tenure tax.

Could a professor make more in the private sector? Perhaps, but if he could, wouldn’t he already be there? It always comes back to how we value risk.