PHOENIX — Gov. Katie Hobbs is giving the Arizona Board of Regents two weeks to deliver to her a plan that outlines how it will solve the University of Arizona's financial struggles.
In a letter sent Thursday, Hobbs told the regents there's been a lack of accountability about the Tucson university's budget shortfall of $240 million and she'd like to see some changes.
The governor listed out a series of mandates she wants to see the regents adopt, which includes bringing in an outside entity to assess the university's finances.
"I no longer trust the process that is in place," Hobbs wrote in the letter. "...it is time to bring in an independent, third-party consultant."
Hobbs is further asking for ABOR to address how it's avoiding any potential conflicts of interest since the board's executive director is also UArizona's chief financial officer.
In addition, Hobbs asked for a report detailing why the university purchased Ashford University, the for-profit university that was subjected to a lawsuit in California for allegedly misleading students about the costs of enrollment.
Hobbs has given the board of regents until Feb. 9 to provide a plan detailing its strategies for addressing the issues at UArizona.
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