After years of struggling to climb out of a financial hole, the University of Central Arkansas has gained ground and managed to tuck away $12,058,765 in unrestricted cash reserves, said President Tom Courtway during the Board of Trustee's retreat Friday.
The gain means the university is in a position to consider new projects, including improving its facilities, spokesman Jeff Pitchford said.
Trustees said they were impressed by UCA’s progress. Trustee Victor Green said the progress is “absolutely phenomenal.”
“It shows you what people can do when you work toward a common goal,” Green said.