The Arizona Board of Regents (ABOR) says the University of Arizona is currently ‘hemorrhaging’ money, now with the least amount of cash on hand since 2013.
The schools says it’s the result of major investments that drained the university’s reserves, as well as some mistakes in accounting. University of Arizona President Dr. Robert Robbins says those investments—including some research funding and scholarships designed to attract students—could soon end.
The situation could also lead to salary cuts and a hiring freeze as part of the university’s immediate course of action. Regents discussed both long-and short-term actions the university should consider when they met in early November.