Missouri Governor tapping into university reserves

Governor Jay Nixon says he will not seek to use university reserves to help balance Missouri's budget.

Nixon's administration had floated an idea last month that would have taken $106 million from the reserves of five of Missouri's largest universities to help fund the higher education operating budget for the 2013 budget.

You'll remember we reported on December 17 that Nixon asked five Universities in Missouri to come up with a loan to the state totaling 100 million dollars.

The first round of figures showed that Nixon wanted the University of Missouri to contribute 63 million dollars, Missouri State University to contribute 13 million dollars, the University of Central Missouri, Southeast Missouri State University and Truman State University to contribute roughly 10 million dollars each all in an effort to help the state's budget for next year.

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