Board of Trustees Votes to Support Gearhart, Accept Audit Reports

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FAYETTEVILLE, Ark. – The Board of Trustees of the University of Arkansas System voted unanimously Friday for a resolution supporting University of Arkansas Chancellor G. David Gearhart. The trustees later unanimously voted to accept two audit reports regarding a previously accumulated deficit in the university’s Advancement Division. Board Chair Jane Rogers read the following letter before the trustees’ action:

“As trustees, we take very seriously our responsibility to ensure the financial heath, stability and accountability of all of the institutions in the University of Arkansas System. I know my colleagues understand and share many of the concerns that have been raised regarding the deficit in the advancement division at the University of Arkansas, Fayetteville. On behalf of the board, I want to express my thanks to all of the auditors, law enforcement officials, legislators, news media and others who have looked into this issue and provided valuable insight on what happened and how to keep something similar from happening again.

“I also appreciate that Chancellor Gearhart has taken responsibility for the problems surrounding the deficit and for implementing the changes necessary to ensure the fiscal health of the division and improve the accountability of the university as a whole. As we’ve said, the board will continue to monitor the progress of implementing all of the recommendations from the audit report. And, as we’ve shown in passing the new board policies, our board is committed to financial accountability and freedom of information.  

“I recognize that this has been a difficult episode for the university, and I pledge that the university can and will do a better job in the future. At the same time, I recognize the many wonderful accomplishments that have occurred across the campus, and I am proud that the overall financial and academic health of the institution is outstanding and continues on an upward course under Chancellor Gearhart’s leadership. With that in mind, as chair of the board, I’d like to reiterate my full support of the chancellor in his effort to move the university forward in a positive direction for our students, faculty, staff and our state.”