A plan to send more money to Illinois’ colleges and universities is relying on some creative accounting to justify the spending. One professor who is a budget expert says the money is just not there. A pair of bills headed to the Illinois House floor would send more than $450 million to supplement state colleges, universities and tuition assistance for low-income students.
To fund the spending, legislators want to forgive a loan from special state accounts. State budget expert Richard Dye with the University of Illinois says sweeping funds from special accounts won’t solve the state’s money woes.
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Dye questions how lawmakers can say the money is available since the state already spent what was loaned last year. The Governor’s Office of Management and Budget was not immediately available for comment.