University of Hawaii taps into reserve funds to cover its federal employees payrolls amid government shutdown
HONOLULU (HawaiiNewsNow) – The University of Hawaii system is tapping into its reserve funds to help cover the ripple effects of the government shutdown.
The shutdown has affected the university system’s federal employees.
UH President Wendy Hensel told the Board of Regents (BOR) Thursday, that thousands of UH employees are either fully or partially funded by federal dollars.
As of this month, Hensel did not seem overly concerned about the need to tap into those reserve funds.
“The challenge is primarily cash flow. Its upward of $20 million a pay period… so we believe we are in good shape through the end of the month,” Hensel said.
However, 81 grants have been cut by the federal government, which amounts to more than $108 million in funding that will end in the coming year.
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