Illinois legislators are warning the University to prepare for budget cuts due to the state’s financial situation, top administrators said Wednesday at the school’s bimonthly Board of Trustees meeting.

University Comptroller and Chief Financial Officer Walter Knorr said Gov. Pat Quinn kept the school’s funding level flat in his proposed budget. But when Knorr and University President Michael Hogan spoke with Illinois legislators three weeks ago, they received a warning.

“(They said) this budget situation is so tough, you should prepare yourself for cuts,” Knorr said.

He said a lot of University faculty and staff are worried about the state’s underfunded pension program and how it will affect their pensions in the future.

Hogan said no issue at the University now has captured as much concern that the pension program has.

As of Monday, the state owes the University $447 million. The state still has not sent the University $44 million in financial aid funding.

The meeting led off this morning with an executive session to discuss filling 16 or 17 vacant senior positions at the University.

“We were getting an update from the president as to where we are in the replacement efforts for those senior leaders,” said Board Chairman Chris Kennedy. “We heard very good news about the quality of the chancellor searches on both the Springfield campus and the Urbana campus.”

Kennedy then spoke about the recent deaths of University student Brad Bunte, Professor and former Director of the Institute of Government and Public Affairs Samuel Gove, and University of Illinois at Chicago employee Magnolia Whitaker. Kennedy asked for a moment for silence for them and for the people of Japan.

The board plans on voting on whether to increase tuition by 6.9 percent for incoming students later this afternoon. Kennedy said Tuesday that this resolution has a “high chance of passing.” Stay with us for more updates.