Money runs low for Louisiana universities

Tim Goral's picture
Monday, December 9, 2013

If some of the millions of dollars that Louisiana’s colleges and universities must have to balance their budgets don't start coming in faster or other steps are taken shore up budgets, state schools could run out of money by the end of this month.

That’s the situation Robbie Robinson, vice president for business and finance for the University of Louisiana System, presented to the ULS Board of Supervisors Friday.

Much of higher education’s budget counts on one-time revenues from several sources, including rental payments from private hospitals that took over state facilities and cash from legal settlements. This money and more taken from a number of other funds go into what’s known as the Over-collections Fund.

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