clear
Friday September 4th, 2015 11:52PM

Ga. Perimeter audit shows college ignored financial trouble

By The Associated Press
ATLANTA (AP) An audit has found that a $25 million shortfall at Georgia Perimeter College was caused by chronic overspending and an inattention to finances by administrators of the suburban Atlanta school.

The review by the University System of Georgia was released Thursday.

It found that the school's senior fiscal leaders ignored or didn't notice of warning signs the college was heading toward financial disaster.

Evidence of the school's dire financial situation was available in both school financial statements and publicly available state audits. Those reports showed the college overspending its budget and using dwindling reserves to make ends meet.

However, the review states that the school's former president didn't read the financial statements and other key officials didn't fulfill their fiscal management duties.

Georgia Perimeter is the state's third-largest public college, teaching nearly 27,000 students at sites in Alpharetta, Clarkston, Covington, Decatur and Dunwoody.

Earlier this year, Georgia Perimeter announced the layoffs of nearly 300 workers as it copes with its budget shortfall.

© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Fiscal cliff may determine gas prices at start of 2013
Retail gas prices climb as 2012 comes to end. While gas prices are likely to rise into next year, whether or not a deal is made to avoid the fiscal cliff will determine if prices continue on an upward trend.
6:18AM ( 2 years ago )
Business News
Couch names administrative team
Ahead of his scheduled swearing in Friday, Hall County Sheriff-elect Gerald Couch named his top administrative team Monday.
6:28PM ( 2 years ago )
Tech beats Southern California in Sun Bowl
Tevin Washington threw a touchdown pass and ran for another score to help Georgia Tech beat Southern California 21-7 on Monday in the Sun Bowl.
5:54PM ( 2 years ago )
Hall Co. officials launch health-based initiative for employees
Hall County officials believe healthy county employees will be of greater service to the county. With that in mind, they have created a health-based fitness initiative to provide free fitness training for county workers.
5:46PM ( 2 years ago )
Local/State News
Sentencing handed down for two former Hall Co. Sheriff Office employees
Federal Judge Richard Story handed out two similar sentences in U.S. District Court in Gainesville Friday afternoon but called each case unique to itself.
6:41PM ( 5 hours ago )
More attempted political comebacks set for Nov. 3; Clermont special election likely in March
As the books closed on qualifying for the Nov. 3 city elections Friday,the number of former office-holders seeking a political comeback in northeast Georgia increased.
6:36PM ( 5 hours ago )
Hall deputies arrest suspect in 2014 molestation case
Acting on a tip, Hall County Sheriff's Office warrants deputies arrested a man this week, suspected of child molestation in 2012.
1:17PM ( 10 hours ago )
Alto man arrested for growing pot
An Alto man is behind bars after authorities say he tried to cut down and dispose of marijuana plants while authorities were searching for pot growers from a helicopter.
12:38PM ( 11 hours ago )
Alto man injured after motorcycle leaves road near Unicoi Gap
An Alto man was injured Thursday when he lost control of his motorcycle and crashed near Unicoi Gap on Highway 75 north of Helen
12:12PM ( 11 hours ago )