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Cheryl Schluterman Appointed to Lead Arkansas Development Finance Authority as Interim President

LITTLE ROCK – (October 18, 2018) – ADFA Vice President for Finance and Administration Cheryl Schluterman will become the interim president of the Arkansas Development Finance Authority, the ADFA Board of Directors announced today.

ADFA Chairman of the Board John Cooley welcomed Schluterman to the position this afternoon at the ADFA Board of Directors’ monthly meeting held at 900 West Capitol in Little Rock. Schluterman will replace current ADFA President, Aaron Burkes, who leaves to become the next chief executive officer of the Northwest Arkansas Regional Airport.

“I appreciate the support and confidence of Governor Hutchinson and the ADFA Board of Directors,” Said Schluterman. “I look forward to continuing ADFA’s important mission of promoting homeownership and meeting the affordable housing needs of Arkansas, encouraging economic development and improving access to higher education funding for Arkansas students.”

Schluterman will immediately begin her role as interim president. She will report to the ADFA Board and serve at the will of the Governor.

"I support the board’s decision to appoint Cheryl Schluterman as the interim president of the Arkansas Development Finance Authority,” said Governor Asa Hutchinson. “Over the past four years, Cheryl has served our state well through her steady leadership as vice president for finance and administration at ADFA. I’m confident that her extensive experience in both the public and private sectors will serve her well as she leads the department."

Schluterman has served as ADFA’s vice president for finance and administration since 2014. Her responsibilities include: oversight of accounting, human resources, finance/investment, loan servicing, budget procurement and IT.

Schluterman is a certified public accountant that holds a Master of Accountancy and Bachelor of Science in Business Administration from Kansas State University.

About the Arkansas Development Finance Authority

ADFA is the state's largest source of low-cost financing for low-to-moderate income housing development, small industries, government, education and healthcare. Through the issuance of taxable and tax-exempt bonds and notes, the administration of private and public grants and partnerships with state and federal agencies, ADFA gives Arkansans the most cost-effective financing choices possible.

MEDIA CONTACT:

Derrick Rose Public Information & Outreach Arkansas Development Finance Authority 900 West Capitol, Suite 300 Little Rock, AR 72205

501-682-5904