The University of Arkansas for Medical Sciences Medical Center’s chief financial officer resigned Friday as UAMS continues to search for ways to slash its projected deficit.
Dan Riley, who also is the associate vice chancellor for clinical finance, “has agreed to stay on until the end of the fiscal year on June 30 to help with the transition as we begin the search for his successor,” Leslie Taylor, a UAMS spokeswoman, said in an email to Arkansas Business. “We are very grateful to Dan for his 17 years of service to UAMS and the people of our state.”
Riley’s annual salary is $281,177. With 508 hospital beds, the UAMS Medical Center had $25.4 million in net income and a net patient revenue of $747.6 million for its fiscal year that ended June 30. Its net patient revenue was the highest in the state for hospitals and medical centers.
Arkansas Business reported in December that the university was looking for ways to cut costs amid a projected a deficit of $72.3 million for the current fiscal year, which ends June 30. At the beginning of the fiscal year, UAMS had projected a deficit of $39.8 million. UAMS said it had to cut more than $30 million in expenses in the current fiscal year to comply with its budget as approved by the University of Arkansas’ board of trustees.
Earlier this month, UAMS announced it would reduce its workforce by 600 positions, which included 258 occupied positions. The move is projected to lower expenses by between $26 million and $30 million for the fiscal year that ends June 30. For the entire fiscal year that starts July 1, the savings will be about $60 million.
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