UI nears halfway point to finding $60 million in savings
The University of Illinois is nearly halfway to its goal of saving $60 million over three years by centralizing functions and eliminating waste.
So far, $26 million in savings have been found, up from $12 million at the beginning of the calendar year. About half of the savings stem from one area, centralized purchasing, and another $6 million-plus comes from information technology.
University-wide, the Administrative Review and Restructuring initiative recommended consolidating some non-academic services into central offices.
A leader on the team, Avijit Ghosh, said Tuesday that the UI has been concentrating on savings and efficiency at the campus and university levels.
"The pace has definitely stepped up," Ghosh said, adding that "projects started at the beginning of the year have started to bear fruit. I'm proud that so many people have put their energy behind this effort — not one or two people, but university-wide."
He said procurement savings bore some of the early fruit.
"We really take advantage of the university's scale in making sure we get the prices we want. Typically what happened before was that individual departments and even the smallest units made their own purchases; this is now university-wide," he said
See more on this story in Wednesday's News-Gazette.