From The Chicago Tribune:

They asked Gov. Pat Quinn and Comptroller Dan Hynes to commit to a reliable payment schedule for the rest of this fiscal year, which goes through June. The state was $735 million behind in payments to the nine taxpayer-supported universities as of Jan. 25.

"We are all surprised that things could get as perilous as they are," University of Illinois interim President Stan Ikenberry said at a joint news conference with the UIC chancellor and the presidents of Northern Illinois University and Chicago State University. "We owe it to the people of Illinois and the future of Illinois to seek a prompt resolution."  Read more.