UA finance exec Schook to retire

FAYETTEVILLE — A University of Arkansas, Fayetteville finance official — whose report on “many fraud risk factors” was featured prominently in a deficit inquiry — will retire from her position March 31, the university announced.

Jean Schook in 2007 became UA’s associate vice chancellor for finance and administration and treasurer. Earlier, she worked as part of the state Division of Legislative Audit.

Schook, in a 2012 report to UA’s top finance officer at the time, Donald Pederson, told of risk factors relating to money management within UA’s Advancement Division, the school’s main fundraising unit.

Despite the report, neither Pederson nor Schook disclosed problems to state auditors in a routine conference.

The deficit, ultimately found to be $4.2 million as of June 30, 2012, became public later that year. Audits and acrimonious hearings before lawmakers followed.

No criminal charges were filed. State auditors, as well as Schook in an internal report, found that the fundraising division hired too many people when there was not enough money to pay their salaries.

Schook, age 59 according to voter records, earns an annual salary of $182,802, according to an email from Amy Schlesing, UA’s director of strategic communications.

Michael White, associate controller in UA’s Office of Financial Affairs, will take over for Schook and, beginning April 1, will earn a salary of $165,000.