IU will spend cash reserves to stay open if state budget doesn't pass by Tuesday deadline

By Nicole Brooks, Herald-Times

nbrooks@heraldt.com

State government may be staring at a shutdown, but Indiana University will spend cash reserves to stay open for business.

IU administrators will begin spending the university's cash reserves next month to cover payroll and other operating costs.

With state appropriations an unknown, IU trustees met briefly Friday to pass a resolution that states the university will operate under the current budget into the next fiscal year, and heard plans to use reserves for necessary July and possibly August payments.