Financial Officer Out At NWACC
NorthWest Arkansas Community College’s chief financial officer is out of a job after Marty Parsons and the college parted ways Wednesday.
President Becky Paneitz released a statement Thursday saying administrators are formulating a plan for how “the responsibilities of the college’s chief financial officer will be handled in the near term and moving forward.”
Administrators may bring in an interim financial officer as they decide how to proceed long-term, said Steven Hinds, executive director of public relations for the college.
Hinds declined to say whether Parsons resigned or was fired.
Paneitz’s statement continued, “It is my responsibility and duty to exercise strong leadership for the best interests of the college and its students. At times, this requires making difficult but necessary decisions, including those associated with college personnel.”
Last month, the NWACC board discussed ways to clean-up a number of mishaps in its financial reporting protocol than cost the college nearly $70,000 in fines for late tax payments between 2009 and October 2011, some of which occurred on Parsons’ watch.
Board members discussed what internal processes were needed to prevent future problems. The college did not have a centralized person who was responsible for managing the payroll or delegating the responsibilities, which is why the board approved last month the hiring of a future payroll manager.
Parsons said last month he had been working to create standardized procedures and correct previous previous mistakes since joining the college more than a year ago.
(The City Wire contributed to this report)