SIU will be receiving its state appropriations at the end of September, nearly three months earlier than in previous years.

University president Glen Poshard said the state comptroller’s office laid out a payment plan so SIU receives its appropriations by September 30. The plan will ensure next year’s payment by September 30 as well. The payment is three months late from the June 30 deadline, but is an improvement over the past, he said.

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“That will be two years in a row that we will have been able to get paid only three months late,” Poshard said. “That’s a lot better than the six months late we’ve been used to the last several years.”

According to Poshard, the state is able to make the payments due to increased revenue from a temporary income tax increase.

He said the appropriations coming in earlier than expected is a step in the right direction to making the university financially solvent, which has been a problem in the past due to declining enrollment and a decrease in state funds.

“If you’re getting paid really late like over the past years, that could have been devastating,” Poshard said. “Especially in light of the enrollment declines at SIU, which cut back on the amount of money we have to operate through the loss of tuition in fees.”

The appropriations greatly increase the cash flow of the university, allowing it to pay its bills and vendors. This could potentially raise the university’s credit rating, which was downgraded to A3 by Moody’s in August. Poshard said the university has dealt with all of these factors well in the eyes of the ratings agencies.

“I think we’ve managed to handle things very well in light of those things that have negatively affected our revenues,” he said. “That’s always a fear when you’re getting cut back and getting paid late. It’s possible that the university could have slipped into some dire straits, but we have been able to manage that pretty effectively.”