/ Modified jun 6, 2024 9:30 p.m.

UA expecting less cash on hand next fiscal year

In a report to an ABOR committee UA officials gave the latest numbers.

ua mall union A view of the mall at the University of Arizona taken from the Student Union.
AC Swedbergh / AZPM

The University of Arizona continues to have the lowest number of days cash on hand of the three state universities.

UA officials told an Arizona Board of Regents committee on Thursday that they expect to have 67 days worth of cash on hand for the upcoming fiscal year. If that prediction holds true it will be the lowest level for the university in more than a decade.

"We are expecting a 6-day decline between 24 and 25. This is in line with our recent improvements we’ve made in our general operating budget," UA vice president and chief budget officer Garth Perry told the Regents.

The university found itself in a financial crisis earlier in the current fiscal year when its cash on hand dipped into the 70 day range.

Northern Arizona University officials told ABOR they have 170 days cash on hand and ASU officials told the board they have more than 160 days.

UA interim CFO, John Arnold cautioned that the university's estimate is conservative so it could improve.

University officials will give a full financial update to the Board of Regents at the end of the month.

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