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updated: 9/12/2013 3:45 PM

U of I approves $5.6 billion budget

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Associated Press

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.

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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.

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