The University of Arizona is in what its president calls a “financial crisis” that will require some “Draconian cuts.”
During a meeting this past June, UA President Robert Robbins told the Arizona Board of Regents that the university expected to have 156 days worth of financial reserves — or cash on hand. But this month, Robbins told the board the university was in "a financial crisis," after its financial model had miscalculated the university had $240 million less than projected.
Robbins struggled to tell faculty this week how the university got itself into this position. According to reporting from the Arizona Daily Star, Robbins told a faculty senate meeting the university would have to make major cuts to make up for the shortfall. And the cuts to come could impact the university’s sports programs most.
A financial reform plan is due to ABOR next month. University personnel did not respond to requests for comment.
The Arizona Daily Star's Ellie Wolfe, who has been covering the story, joined The Show to talk about it more.
KJZZ's Alisa Reznick contributed to this report.
