ISU President Vailas: Reserves up, debt down, but campus infrastructure hurting

Here’s a news item from the Associated Press: BOISE, Idaho (AP) — The president of Idaho State University says the school has not only increased its reserves to more than $12 million, but also rearranged programs on the Pocatello campus to help cut costs and take a bite out of its long-term debt. University president Arthur Vailas reported Monday to the Idaho Legislature’s budget writing committee. Vailas said the university had just $250,000 in unrestricted assets when he started in 2006 and under his leadership, those reserves have grown to $12.3 million. The school also paid off more than $4 million in outstanding debt during the past fiscal year. But these highlights, Vailas cautioned, do not mean the school has been untouched by the economic downturn. He reported the university has roughly $440 million in unmet infrastructure needs.