The university’s Division of Finance and Administration and Division of University Advancement have been searching for several months to find the cause of a large imbalance in the advancement division’s budget for the 2012 fiscal year.
The review found flaws in the division’s budget management process at the senior level.
According to ArkansasOnline, the university has reassigned Vice Chancellor for Advancement Brad Choate and his budget officer.
Chancellor Gearhart says anticipated investment revenues had been used to meet current budget obligations.
Vice Chancellor for Advancement Reassigned
