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Mon January 6, 2014
University Of Arkansas Finances Face More Scrutiny
University of Arkansas-Fayetteville officials are expected to testify before a legislative committee this week to answer additional questions about the university's fundraising practices.
Late last year, the Joint Legislative Auditing Committee reviewed state audit findings that showed a multimillion-dollar shortfall in the Division of University Advancement.
According to reports, poor fiscal oversight and a failure to follow school policies and procedures in UA’s Advancement Division led to a deficit of over $4 million in fiscal years 2011 and 2012 for the university and its foundation. Another legislative hearing is expected Tuesday.