A board of directors governs the affairs of the Authority. It is composed of the State Treasurer, Director of the Department of Finance and Administration, and eleven public members appointed by the Governor. The President of the Authority is an ex-officio, non-voting member of the board.


The public members represent a broad cross section of interests from all geographic regions of the state. They voluntarily bring to the Authority a diversity of experience, talent and opinion.


Stephanie Ellis

Katelyn Busby

Stephanie Ellis, Chief Executive Officer at ARVAC Inc., Dardanelle, Arkansas - Her term on the board expires January 14, 2021.

Katelyn Busby

Stephanie Ellis

Katelyn Busby, attorney at the Hashem Law Firm PLC, Monticello, Arkansas - Her term on the board expires January 14, 2020.

Larry Walther

Larry Walther_ DFA

Larry Walther, Director, Arkansas Department of Finance and Administration, Little Rock, Arkansas - He is an ex-officio member of the board.


Tom Spillyards

Tom Spilliards2

Tom Spillyards, Banker (retired), Rogers, AR - His term on the board expires January 14, 2021.

John Cooley

John Cooley a

ADFA Chair
John Cooley, Executive Vice President and Chief Financial Officer for Propak Logistics, Inc., Fort Smith, Arkansas - His term on the board expires January 14, 2019.


Denise Sweat

Denise Sweat

Denise Sweat, Vice President for Farm Credit Services of Western Arkansas, located in Nashville, Arkansas - Her term on the board expires January 14, 2018.

Aaron Burkes

Aaron Portrait croped

Aaron Burkes, President of the Arkansas Development Finance Authority.  He is an ex-officio member of the board.

Stephen G. Rose

Stephen G Rose

Stephen G. Rose, Proprietor, Roseland Farms located in Blytheville, Arkansas - His term on the board expires January 14, 2020

Dr. Lillie "Lee" Lane

Dr. Lee Lane

Dr. Lillie "Lee" Lane, retired engineering executive, Paris, Arkansas - Her term on the board expires January 14, 2022.

Stan Green

Stan Green

ADFA Vice Chair
President of Clear Energy, Inc. and Lindsey-Green Commercial Properties located in Fayetteville, Arkansas - His term on the board expires January 14, 2019.


Seth N Mims

Seth Mims2

Seth N. Mims, President and Partner - Specialized  Real Estate Group of Fayetteville, Arkansas - His term on the board expires January 14, 2020.

State Treasurer Dennis Milligan

Dennis Milligan

Dennis Milligan, State Treasurer for the State of Arkansas.  He is an ex-officio member of the board

Gregory Stanfill

Greg Stanfilla

Gregory Stanfill is Executive Vice President and Director of Community Banks for Arvest Bank - He is from Rogers, Arkansas.  His term on the board expires January 14, 2021.

Carey Smith

Carey Smith crop
Carey Smith, President of C. Smith Holdings, Inc., Little Rock, Arkansas - His term on the board expires January 14, 2021.

Board Professional Selection Committee

Stan Green, Chair
Dr. Lee Lane
John Cooley
Carey Smith
Katelyn Busby

Board Audit Committee
 

Greg Stanfill, Chair
Tom Spillyards
Stan Green
John Cooley
Paul Louthian

Board Housing Review Committee

Seth Mims, Chair
Tom Spillyards
Greg Stanfill
Stephen Rose
Stephanie Ellis

Board Investment and Administration Committee

Denise Sweat, Chair
Katelyn Busby
Carey Smith
Dr. Lee Lane
Seth Mims

Board Asset Commitment Committee

Tom Spillyards, Chair
Denise Sweat
Stan Green
Greg Stanfill
Stephen Rose

ASLA (Arkansas Student Loan Authority) Committee

Stephanie Ellis, Chair
Denise Sweat
Carey Smith
Katelyn Busby
Stephen Rose