FAYETTEVILLE -- The University of Arkansas for Medical Sciences began the current fiscal year on track with its approved budget, University of Arkansas System Chief Audit Executive Jacob Flournoy told university trustees Thursday.
"It's important to stay on a balanced budget. I believe they are," Flournoy said.
The fiscal year began July 1, after UAMS cut some 600 jobs earlier in the year to deal with a budget shortfall.
The UA board of trustees in May approved a balanced budget for UAMS with total expenses of $1.566 billion.
UAMS operates a medical school while providing patient care at a hospital and various locations across the state.
Sheffield Nelson, a partner in a Little Rock law firm and a member of the board of trustees, praised UAMS Chancellor Cam Patterson -- who started on June 1 -- and others for "moving UAMS in a positive direction."