Financial Update: ABOR Oversight Report Submitted to Gov. Hobbs

Feb. 9, 2024
Robert C. Robbins

February 9, 2024, 12:37 p.m.

Dear Colleagues,

On Jan. 25, Governor Katie Hobbs sent a letter to the Arizona Board of Regents related to financial issues at the University of Arizona. Her correspondence addressed the importance of accountability, transparency and leadership. I wholeheartedly agree with her emphasis on these key points.

Gov. Hobbs’ letter also highlighted the importance and benefits of engaging a third-party consultant to add external expertise and credibility to the process. Again, I agree with her sound advice. Finally, Gov. Hobbs directed ABOR to present to her by Feb. 9 a plan that includes major strategies and tactics focused on resolving the University’s financial issues.

Today, the Board provided to the governor its Enhanced Financial Oversight Report. You also can review the Board's cover letter to Governor Hobbs and more information about our financial action plan on the University Financial Updates website, which is being continually updated.

Update

The Enhanced Financial Oversight Report highlights how the Regents and I are addressing the current financial issues guided by the core values of protecting students and the University’s teaching and research mission. The report provides information about ABOR and University actions to address financial challenges. It also contains information about the centralization of administrative functions, which we recently announced will begin with human resources and information technology on March 4. The Division of Human Resources and University Information Technology Services are currently preparing for upcoming changes in the reporting lines of staff members embedded in colleges and divisions. Affected staff members will receive more information in the days ahead.

ABOR and I are committed to implementing a financial action plan process that is transparent, measurable and accountable. We will continue to engage with our shared governance partners and the broader campus community to develop and implement effective strategies. We are dedicated to protecting and advancing the institution’s teaching and research mission, which includes implementing financial measures that do not negatively impact our students. Finally, we are committed to ensuring an outstanding educational experience for generations of students, research that drives economies and improves lives, and outreach that benefits millions across the state of Arizona and far beyond.

My sincere thanks to all in our community who have engaged in the financial action plan process and who are committed to being part of the solution. I am confident that, together, we will emerge from this challenge stronger – more efficient, more effective, and better empowered to achieve our critical mission than ever.

Bear Down,

Robert C. Robbins, M.D.

President
The University of Arizona

Resources

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