|
 |
7/10/2008
On Wednesday, Governor Blagojevich issued vetoes cutting approximately $1.4 billion from the fiscal year 2009 budget that had been passed to him by the General Assembly. In doing so, he also approved the remainder of the budget to fund state operations for the current year.
Included among the governor's vetoes was the proposed $18 million increase to the appropriation for ISAC's Monetary Award Program (MAP). Had the increase passed, it would have allowed FY2005 tuition and fees to be incorporated into the MAP formula. Because no increase was approved for MAP, no changes will be made to the recently implemented recompute formula (which is identical to the 2008-09 start-up formula).
Therefore, each of ISAC's scholarship and grant programs received funding for academic year 2008-09 that is the same as the appropriation for 2007-08.
An override of the governor's veto would require a three-fifths majority in both chambers of the General Assembly, and would need to occur within 15 calendar days.
We will keep you informed of any changes that may occur in the budget, although it's unlikely that anything will happen to impact ISAC's appropriations.
|
