State agency names president

Schluterman to fill interim Finance Authority position

Cheryl Schluterman has been named interim president of the Arkansas Development Finance Authority, the agency's board decided Thursday.

Schluterman, 46, comes from the position of vice president for finance and administration at the state agency. She had held that position since 2014.

As interim president, she will serve as the agency's chief administrator. Schluterman will immediately begin her role as interim president. She will report to the ADFA Board and serve at the will of the governor, according to a news release.

She replaces Aaron Burkes, who resigned as president to take a job as chief executive officer of the Northwest Arkansas Regional Airport.

Schluterman, a certified public accountant, has a Master of Accountancy degree and a Bachelor of Science in Business Administration degree from Kansas State University in Manhattan, Kan.

The salary of her new position has not been determined, said Derrick Rose, public information officer for the Finance Authority.

The Finance Authority borrows money and issues bonds to provide sufficient funding for financing affordable housing, various business and economic development projects, and building improvement projects for state agencies. The agency includes the Arkansas Student Loan Authority. The Finance Authority is the exclusive issuer of bonds for state agencies.

NW News on 10/20/2018

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