visimoney
TLDR:
Arizona Governor Katie Hobbs has called for a third-party auditor to investigate the financial crisis at the University of Arizona. In a letter to the Arizona Board of Regents (ABOR), Hobbs expressed concerns about the lack of accountability and transparency at the university and demanded a plan from ABOR, with the involvement of a third party, to address the crisis. Hobbs also called for the resignation of John Arnold, the acting chief financial officer at the university. ABOR has acknowledged the financial challenges faced by the university and is working on a solution, but Hobbs believes that it is too little, too late.
In her letter, Hobbs outlined her concerns about the financial crisis at the University of Arizona and called for clear action to be taken. She expressed a lack of trust in the current process and called for an independent, third-party consultant to conduct an audit of the university’s finances. Hobbs wants the consultant to report to her and ABOR.
Hobbs also questioned the decision to acquire Ashford University and turn it into the University of Arizona Global Campus. She called for an explanation for this decision and wanted it to be included in the plan presented by ABOR. Hobbs expects the plan to be submitted by February 9.
ABOR has responded to Hobbs’ letter, stating that it will announce the details of its plan next week. The plan will be accompanied by a third-party forensic analysis conducted by a team of national higher education and finance experts. Fred DuVal, the ABOR Chair, acknowledged the need for leadership that can best serve the students and expressed a commitment to fixing the situation.
The University of Arizona has received the letter but has not provided a formal comment yet.
