TUCSON, Ariz. (KGUN) — The University of Arizona has hired a new audit executive to oversee finances as the university works to recover from a major financial deficit after an Arizona Board of Regents meeting on Thursday.
During the ABOR meeting, the university's Chief Financial Officer, John Arnold, introduced Bill Harrison as the new Chief Audit Executive.
Harrison joins from the University of Vermont, the same institution where the university's new president, Suresh Garimella, previously served.
The school is currently complying with five audits, two of which remain in the red.
At last check, the 2024 budget deficit had been reduced by nearly 40%, lowering it from $162 million to $63 million.
However, the university still holds a negative rating by Standard & Poor.
As the financial recovery efforts continue, university leaders hope these new appointments and audit processes will help stabilize the institution’s fiscal standing.
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