January 9, 2024 / Modified jan 10, 2024 10:12 a.m.

Former UA CFO retains $500,000 salary in new role amid fiscal challenges

Former University of Arizona Chief Financial Officer Lisa Rulney, after resigning amid a fiscal crisis, keeps her salary exceeding $500,000 in a new advisory role.

University of Arizona Old Main hero 2 Old Main on the University of Arizona campus.
Megan Roxbury, AZPM

Former University of Arizona Chief Financial Officer and Senior Vice President of Business Affairs Lisa Rulney is taking on a new role at the university, retaining her previous salary of over $500,000.

The Tucson Agenda broke the initial news and AZPM confirmed through a UA spokesperson that Rulney's salary remained the same.

According to the campus directory, Rulney is now a senior advisor for business operations. During a December meeting, UA President Robert Robbins told the Arizona Board of Regents that Rulney submitted her resignation, but did not share that she would remain at the university in a new role.

“At the time of her resignation from the position of senior vice president for business affairs and chief financial officer, President Robbins asked that she continue serving the University during this transition to support the financial mitigation plan implementation as well as assist with operations within the Division of Business Affairs,” a university spokesperson told AZPM.

Rulney’s resignation as senior vice president for business affairs and chief financial officer came after the university announced in November that it is entering its worst fiscal year since 2013 due to a $240 million miscalculation in cash reserves.

A university spokesperson told AZPM that Rulney’s temporary new role “is intended to provide critical support to the University at this important time.” She will report to ABOR Executive Director John Arnold.

Arnold is temporarily taking over Rulney’s previous role until it is permanently filled. The timeline for that has not been determined.

“We appreciate Lisa Rulney’s willingness to utilize her longtime experience and expertise to continue serving the University at this critical time,” the university said.

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