LITTLE ROCK, Ark. (AP) - The University of Arkansas System is monitoring the financial status of its academic medical center after recently laying off more than 250 employees to reduce a deficit.
The Arkansas Democrat-Gazette reports that the University of Arkansas for Medical Sciences announced earlier this month it was cutting 600 positions as a way to help trim what administrators anticipated would be a $72.3 million deficit. Nearly 260 of those positions were cut at the time of the Jan. 8 announcement.
Administrators expect the layoffs to save $18 million in the fiscal year ending June 30.
Chief Audit Executive Jacob Flournoy said Wednesday that system auditors are meeting biweekly with UAMS administrators to monitor the effects of the budget reductions. Auditors are also focusing on the campus' unrestricted cash.
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Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com