- Associated Press - Friday, January 24, 2014

FAYETTEVILLE, Ark. (AP) - The University of Arkansas says it has raised $62.3 million halfway through the 2014 fiscal year and is ahead of pace to reach its goal of bringing in $108 million.

The Fayetteville campus announced the numbers Friday, a day after UA System trustees accepted audit reports that showed its fundraising division had a $4.2 million deficit.

Chancellor David Gearhart said in a news release that the money that’s coming in shows the university has the confidence of its donors.

The funds will be applied to academic and athletic programs, including scholarships, new construction and renovations and other areas. The total includes cash gifts, in-kind donations, pledges and planned gifts.

This is the fifth consecutive year that the campus has raised more than half of its goal by Dec. 31.

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