Sunday October 4th, 2015 3:36AM

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
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 This material may not be published, broadcast, rewritten, or redistributed without permission.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
More heavy rain and flooding forecast along parts off waterlogged East Coast
CHARLESTON, S.C. (AP) — While spared the full fury of Hurricane Joaquin, parts of the East Coast saw record-setting rain Saturday that shut down roads, waterlogged crops and showed little sign of lett...
12:02AM ( 3 hours ago )
Tide rolls over Dogs in a rout
Jake Coker ran the offense to perfection, the defense turned in a dominating performance, and No. 13 Alabama even got a touchdown from its special teams Saturday in a 38-10 rout of No. 8 Georgia that re-established the Crimson Tide as a force in the national race.
By The Associated Press
11:59PM ( 3 hours ago )
Two injured in head on collision Saturday
A two car accident snarled traffic on Dawsonville Highway Saturday afternoon.
10:26PM ( 5 hours ago )
Flood Warnings issued in North Georgia
The National Weather Service has issued flood warnings in the north Georgia area.
10:02PM ( 5 hours ago )
6 US airmen who died in Afghanistan plane crash identified; Georgian among them
DYESS AIR FORCE BASE, Texas (AP) — The Department of Defense has identified the six American airmen killed when a U.S. Air Force military transport plane crashed in eastern Afghanistan.
6:04PM ( 9 hours ago )