CARBONDALE - Southern Illinois University should have enough to cover employee payroll through the middle of December, despite the fact the state will owe it about $124 million by the end of this month, officials said Friday.

University President Glenn Poshard and SIU Vice President for Financial Affairs Duane Stucky said they've been able to locate about $25 million in savings so far as part of a mandated slow-down on expenditures at both the Carbondale and Edwardsville campuses in response to the cash crisis.

Poshard and Stucky are confident employees won't miss a paycheck in the near future, as has been rumored on the campuses, they said.

"Every day that goes by I feel more positive that we're going to get through," Poshard said.

Stucky said he will have a better idea of what the future holds by the second week of December but said finance management has greatly improved their outlook.

"We're so much closer than we were six months ago," Stucky said.

The campuses have been able to save money by cutting down on expenditures including travel, paying bills closer to the due date and cancelling some events.

"This has resulted in quite a bit of savings already," Poshard said.

Poshard met with more than 1,000 employees on the SIU Edwardsville campus earlier this week to go over details with employees. A similar meeting took place with administrators at SIUC earlier this month.

Poshard has been in contact with Illinois Comptroller Dan Hynes office regarding the university's payment status. So far the state has released $5.6 million in Monetary Award Program funding, which goes toward student financial aid.

The university is also waiting on stimulus money, which makes up seven percent of its budget and takes them above their Fiscal Year 2006 funding. However, when the stimulus money runs out, they will be back at the funding they were at three years ago. The situation could be more dire in February and March, especially with a slew of MAP grants to pay.

"We're in a tough situation right now but it gets even more gloomy when that kicks in," Poshard said.

caleb.hale@thesouthern.com

618-351-5090

codell.rodriguez@thesouthern.com

618-351-5804