WIU Board Approves New Housing & Dining Rates; Foundation Loan
At Friday's meeting of the Western Illinois University Board of Trustees meeting, the Board unanimously approved increasing the housing and dining rates and student health insurance fees for Fiscal Year 2027.
Double occupancy housing and dining rates will increase by $474 (3.99 percent). The Student Health Insurance fee will be $1,075 for a semester, or $2,150 for a full academic year, a 1.3 percent increase. Working with the administration, Western's Inter-Hall Council, which is composed of a group of students residing in the dorms, approved the proposed housing and dining rate increase for the 20262027 year.
'Inflationary costs on our housing and dining operations are felt more significantly and their total revenues are tied only to the housing and dining assessed for students living on campus,' said Ketra Roselieb, vice president for finance and administration. 'Housing and dining receive no state appropriations or additional fund sources. They are a self-sustaining auxiliary.'
In other business, Roselieb told the Board that the institution will borrow $2 million from the WIU Foundation's unrestricted funds.
'Daily cash on hand remains at a critical level. The finance team continues to navigate the cyclical nature of our cash receipts alongside the reimbursement process as we receive both state and federal funds. Because cash on hand remains at a critical level, on April 1, the University plans to act on the authorization provided by the Board in December and enter into the $2 million loan extended from the University Foundation,' she shared at Friday's meeting. 'The University appreciates the Foundation's extension of this partnership and its approval of a distribution from the unrestricted endowment to fund this loan, which will cover the temporary cash flow shortages while the University continues to implement its significant budget adjustments.'
The unrestricted funding of the $2 million loan was authorized to be used to provide funds to cover essential University operations. The language from the loan agreement highlights that the proceeds will be used solely for the purpose and furtherance of the University's educational mission.
'Our cash position is not strong. It has not been strong since prior to the budget impasse. And because of how we receive both state and federal funds, we do not have the cash on hand, especially if there's a federal government pause,' Roselieb added. 'We are in a critical situation, which is why we're taking advantage of this loan at this time.'
The complete BOT book, including all action items/resolutions and reports, is available at wiu.edu/bot. The audio livestream of the meeting can be found on WIU's YouTube Channel at youtube.com/user/WesternIllinoisU.
The next meeting will be Tuesday, June 16 on the WIUQuad Cities campus.
