Both have its advantages and disadvantages and there is no one solution to every problem. In-sourcing and outsourcing are not moral issues where your stand could be held whatever the situation is. At a given time outsourcing could be more beneficial than in-sourcing and on another situation it could be the reverse.
In my university, USEP, taking a stand on whether to outsource or in-source the IS functions of the school would first require a thorough study on the matter. Define the pros and cons of the the two situations and weigh the two against each other. The one that out-weighs the other should be the action the school takes.
With my limited understanding of the situation (IS functions in the University) I would say that it would be better to outsource the facilities. It would free the professors to teach students instead of trying to manage the systems inside the school. The professors would be given more time to spend with their students instead of trying to improve the IS. The first priority of professors should be to teach and not to create or to manage the IS facilities. It would also lessen the worries involved. All the University has to do is to find a party that offers the services needed for the school including the maintenance, check-ups of the equipment to be used and to allot the appropriate budget for it. Troubleshooting and problems that arise would be the problem of the provider and not of the school. Of course the school will be affected if problems will arise but the solution for the problems should be given by the provider and not by the school.