2008 Woodie Awards
CMU receives $7.5 million deferred payment
All Michigan universities get promised funding
By: Brian McLean
Issue date: 10/19/07 Section: News
- Page 1 of 1
Central Michigan University received its $7.5 million deferred August payment Wednesday, said Barrie Wilkes, interim vice president of finance and administrative services.
In addition, CMU received its scheduled $7.3 million October payment, totaling $14.7 million from the state.
"I'm really, really happy," Wilkes said.
Wilkes said if the deferred payment had not been granted, CMU would have continued operating - although the necessary budget cuts would have harmed the university.
Even before the state's four-hour shutdown earlier this month, Wilkes said CMU expected the payment, simply on basis of the government's promise.
CMU isn't the only university to get its funding.
All Michigan universities received their deferred payments along with their October payments, said Leslee Fritz, spokesperson for the state budget office.
"It was decided as part of that agreement that the delayed payment would be made with the October payment," Fritz said.
Wilkes said higher education is essential in remedying the state's economic woes.
"For that to happen, we have to receive adequate funding from the state," he said.
Fritz said funding education remains crucial and the state government always intended to fulfill the deferred payment.
The agreement provided new sources of revenue, she said, enabling the payments to be made.
"Leaders in both the legislature and the governor understand that we can't compete if we do not invest in our schools," Fritz said.
Additionally, she said current budget plans include a 1 percent increase in funding for both K-12 and upper education.
That 1 percent increase would still leave universities with less money than they are getting now, said David Waymire, spokesman for Presidents Council of State Universities of Michigan, which represents all 15 Michigan public universities.
"The average student pays $10,000 more since 2000 because of tax cuts," he said. "Only investing in higher education will move us to prosperity."
That $10,000 comes from a $2,500 deduction per student for Michigan universities every year, Waymire said.
However, even though CMU received the funds, Wilkes said the state's financial uncertainty could lead to cuts in the future.
To avoid further cuts and the higher tuition costs that cuts bring, Waymire suggested students and their parents contact their legislators.
news@cm-life.com
In addition, CMU received its scheduled $7.3 million October payment, totaling $14.7 million from the state.
"I'm really, really happy," Wilkes said.
Wilkes said if the deferred payment had not been granted, CMU would have continued operating - although the necessary budget cuts would have harmed the university.
Even before the state's four-hour shutdown earlier this month, Wilkes said CMU expected the payment, simply on basis of the government's promise.
CMU isn't the only university to get its funding.
All Michigan universities received their deferred payments along with their October payments, said Leslee Fritz, spokesperson for the state budget office.
"It was decided as part of that agreement that the delayed payment would be made with the October payment," Fritz said.
Wilkes said higher education is essential in remedying the state's economic woes.
"For that to happen, we have to receive adequate funding from the state," he said.
Fritz said funding education remains crucial and the state government always intended to fulfill the deferred payment.
The agreement provided new sources of revenue, she said, enabling the payments to be made.
"Leaders in both the legislature and the governor understand that we can't compete if we do not invest in our schools," Fritz said.
Additionally, she said current budget plans include a 1 percent increase in funding for both K-12 and upper education.
That 1 percent increase would still leave universities with less money than they are getting now, said David Waymire, spokesman for Presidents Council of State Universities of Michigan, which represents all 15 Michigan public universities.
"The average student pays $10,000 more since 2000 because of tax cuts," he said. "Only investing in higher education will move us to prosperity."
That $10,000 comes from a $2,500 deduction per student for Michigan universities every year, Waymire said.
However, even though CMU received the funds, Wilkes said the state's financial uncertainty could lead to cuts in the future.
To avoid further cuts and the higher tuition costs that cuts bring, Waymire suggested students and their parents contact their legislators.
news@cm-life.com
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