1340 AM, Saturday, November 21st, 2009
IU Prepared To Use Cash Reserves If State Shutsdown Wednesday
Last updated on Sunday, June 28, 2009
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(BLOOMINGTON) - If there’s a state government shutdown on Wednesday, Indiana University is prepared to spend its cash reserves to stay open for business.
At a brief meeting on Friday, the IU trustees heard plans to use up to $300 million in cash reserves for necessary payments in July and possibly August.
The monthly payroll for the school's 17-thousand employees is around $100 million.
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