Chicago State Declares Financial Exigency as Budget Standoff Continues

Chicago State University has declared financial exigency, signaling the possibility of sharp cuts as the state’s public colleges struggle to find a way forward after seven months without state funding. The Chicago Tribune reports that the university says it does not have enough money to pay its employees through March.

Declaring financial exigency typically makes it easier for an institution to take drastic measures to cut expenses, including the firing of tenured professors. The university’s Board of Trustees has formed a committee of administrators to “decide all employment actions, including layoffs, reductions in compensation, terminations, and significant position modifications,” the Tribune reports.

Chicago State has been beset in recent years with myriad financial problems and leadership controversies.