Hobbs sends ABOR a letter calling for 3rd party to monitor UA financial shortfall
In a letter to the Arizona Board of Regents Thursday, Gov. Katie Hobbs called for changes in oversight following a financial crisis at the University of Arizona.
Hobbs wrote there was no coherent vision on how to lead the university amid a $240 million budget shortfall.
Hobbs also raised doubts about the UA’s acquisition of Ashford University, which she wrote was made through a secretive process that downplayed the risk of the purchase.
Hobbs called for a third party entity to audit and conduct monthly reports of the UA’s financial issues.
In a statement, Board Chair Fred DuVal said: "This situation happened on our watch and we are going to fix it. The governor is right to be focused on leadership that will allow our institutions of higher education to best serve our students. We will be announcing the details of our plan next week, in addition we will be joined by a team of national higher education finance experts who will provide a third-party forensic analysis.”
