URBANA, Ill. -- Trustees at the University of Illinois have approved a $5.6 billion fiscal year 2014 budget for the system's campuses.
Trustees approved the budget at their meeting Thursday in Urbana. The budget is a 1.2 percent increase over the previous fiscal year. Authorities say it's the smallest increase in more than two decades.
University President Robert Easter says the schools are "weathering our financial challenges."
Officials say the direct state appropriation for the University of Illinois increased slightly by $1.2 million for fiscal year 2014 to about $669 million. However they point out that the figure is down from a peak $804 million in fiscal year 2002.
The system includes campuses in Urbana-Champaign, Springfield and Chicago.