NorthWest Arkansas Community College Fires Chief Financial Officer
by August 2, 2012 7:31 pm 83 views
Marty Parsons, chief financial officer for NorthWest Arkansas Community College, parted ways with the institution Wednesday (Aug. 1).
The termination was effective immediately, ad NWACC President Dr. Becky Paneitz released the following statement earlier today (Aug. 2).
“As President of NorthWest Arkansas Community College, 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. My first priority will always be to do what is best for the future of this community college and its students. It is also my desire to always display integrity, be totally transparent and be fair and honest with all concerned. My administrative team and I are currently preparing a plan to determine how the responsibilities of the college’s chief financial officer will be handled in the near term and moving forward.The college has enjoyed tremendous success and I look forwa
rd to the future as our community college positively impacts the lives of our students and the lives of those in the communities we serve, as well as the state of Arkansas.”
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 told The City Wire 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 college is appealing the last penalty assessed by the IRS after a late filing in March which has a potential penalty of $5,103.