The Illinois Board of Higher Education will vote Tuesday on a proposed budget of $2.7 billion in general funds that includes mandatory increases of almost $124 million.

If the proposal is approved Tuesday, Governor-elect Rod Blagojevich will review the proposal and prepare his own budget early next year, said Don Sevener, IBHE spokesman. If Blagojevich plans for a smaller budget, the board will be asked to reallocate resources and make further recommendations, he said.

The Illinois General Assembly will vote on the budget in May.

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The nearly $124 million increase, which is 4.9 percent of the budget, provides funds for legally mandated increases in retirement benefits, a 2 percent salary increase for faculty and staff who received no raises this year and an increase of financial aid dollars, which were cut last year.

But the board will also vote on proposed cuts, which includes a capital budget of $341.8 million for fiscal year 2004, a figure that is down about $100 million from last year’s request.

Although last year’s request was higher, the amount approved by the General Assembly for the fiscal year 2003 was much lower – $338.3 million. This means that this year’s request is about $3.5 million, or 1 percent, higher.

The $341.8 million proposal, if approved, would provide funding for 31 construction projects, including $30 million for renovations at each public university and community college.

Reporter Ben Botkin can be reached at [email protected]