Local & Regional News
5:12 pm
Thu January 23, 2014

UA Trustees Accept Audit Detailing $4.2 Million Deficit

University of Arkansas Advancement
File photo of current and former University of Arkansas officials during a legislative hearing on Jan. 7. From left to right, Vice-Chancellor for Finance and Administration Don Pederson, Associate Vice-Chancellor for Financial Affairs Jean Schook, Chancellor David Gearhart, former Vice-Chancellor of Advancement Brad Choate, former Associate Vice-Chancellor of University Relations John Diamond (behind Choate) and former Advancement Division Budget Director Joy Sharp.
Credit Michael Hibblen / KUAR

University of Arkansas trustees have accepted an audit report that detailed a $4.2 million deficit run up by the advancement division at the Fayetteville campus.

Thursday's discussion took only a few minutes and contained none of the criticism that was heaped on administrators during a recent legislative meeting on the topic.

Trustee John Goodson acknowledged the episode was a "painful" one but said it resulted in stricter financial controls throughout the university system.

The report by the Division of Legislative Audit says the division hired about 20 new fundraisers without having the money in hand to pay them.

Two administrators were terminated when the deficit came to light.