The Daily Wildcat Reports on Financial and Legislative Updates Discussed at November ABOR Meeting

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The Arizona Board of Regents recently held its first meeting at the University of Arizona, where President Suresh Garimella discussed the institution’s financial updates and plans for the future. The university has been working to improve its finances after a significant deficit was disclosed in the cash reserves. CFO John Arnold discussed measures such as a hiring freeze and centralizing departments to control spending. Garimella acknowledged the strain on faculty and staff and expressed hopes for raises in the next year. Concerns were raised about the effects of budget cuts on academic departments, with contingent faculty feeling the pressure of increased student numbers without salary increases. The university aims to close the remaining budget deficit by fiscal year 2026. Additionally, ABOR has refined its policy categories ahead of the new legislative session to focus on securing sustainable revenue and protecting the board’s interests. The political landscape in the legislature remains largely the same, with a Republican majority. Governor Katie Hobbs’ budget proposal is expected to provide more clarity on higher education funding.

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Photo credit wildcat.arizona.edu