The University of Illinois is awaiting a $317 million payment from the state.

So far it's seen only $400,000. Administrators are planning for the worst, and hoping the state pulls through soon.

The Budget and Planning Office says it's not about the state holding money back. Leaders say it's the economy.

Revenue is low, and the money isn't flowing into the state. University leaders aren't taking layoffs or furloughs off the table yet.

But the President's office is trying to trim the entire budget by 6%, just as a precaution.

The president sent out a letter campus wide, warning everyone about the startling payment problem, but said there will be no furloughs this calendar year.