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    Entries in higher education (2)

    Friday
    Jul082016

    The Week in Public Finance: States in Recession, Higher Ed Winners and Losers, and Virtual Retirement

    A roundup of money (and other) news governments can use.
    BY  JULY 8, 2016

    Oklahoma's in a Recession

    New economic data shows what Oklahoma officials have been fearing: The state has officially entered a recession. Revised federal Bureau of Economic Analysis (BEA) data shows that the state’s gross domestic product was negative for most of 2015.

    A recession starts when there are two quarters of economic contraction. Originally, the BEA reported that Oklahoma’s economy contracted in the second quarter, grew by 0.1 percent during the third quarter and contracted again in the last quarter of last year. But the third quarter figure was recently revised downward to -0.6 percent.

    Data for the first quarter of 2016 is expected to be released later this month, but according to State Treasurer Ken Miller, the prospects don’t look good.

    “General indicators fail to point to any marked economic recovery at this point,” he said in his latest state economic report.

    Click to read more ...

    Friday
    Mar042016

    The Week in Public Finance: School Shutdowns, Trading Munis and Small Business Lending

    A roundup of money (and other) news governments can use.
    BY  MARCH 4, 2016

    Education Opens Closes Doors

    One of states' top spending items is education. When lawmakers can’t agree on a budget -- or they decide to make severe cuts -- higher education often gets hurt. Sometimes, even K-12 spending takes a hit. In Illinois and Pennsylvania, ongoing stalemates over the current fiscal year’s budget may lead to school closures. In Louisiana, potential major cuts have students protesting.

    Let’s start in Illinois, where three state universities have taken severe hits. Last Friday, Chicago State University sent layoff notices to all 900 of its employees. The school is making plans to end its semester early unless the state makes good on funding promises. That alarming news came after Western Illinois University announced it would cut $20 million from its budget over the next two years, while laying off 100 employees. Southern Illinois University is contemplating $40 million in cuts and has already started closing programs, such as men’s tennis and women’s golf. Most recently, Eastern Illinois University, which saw its credit rating downgraded to junk status last month, laid off nearly 200 employees, although the school president offered assurances that the university was not closing.

    Click to read more ...