clear
Sunday May 29th, 2016 9:50AM

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 2016 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 This material may not be published, broadcast, rewritten, or redistributed without permission.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 ( 3 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 ( 3 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 ( 3 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 ( 3 years ago )
Local/State News
New pier to be built at Sims Lake Park in Suwanee
Officials in Suwanee have given approval for a new pier to be built at Sims Lake Park.
7:00AM ( 2 hours ago )
Woman's body found in Lake Lanier
Gainesville police recovered a woman's body from Lake Lanier near Lanier Point Park Saturday afternoon.
7:50PM ( 14 hours ago )
Four people arrested after Hall drug agents uncover meth lab
Four people have been arrested after a small methamphetamine lab was found earlier this week in the crawl space of a house in North Hall.
6:00PM ( 15 hours ago )
GDOT approves location, design for new I-985 interchange in South Hall
‚ÄčThe Georgia Department of Transportation has approved the location and design of a new interchange on I-985 in South Hall which will include a new, four-lane connector road.
2:00PM ( 19 hours ago )
Commerce Police ask for help ID'ing suspect in strong armed robbery
According to the Commerce Police Department FaceBook page, a strong-arm robbery took place Friday night at the Flying J on Highway 98 at I-85.
By AccessWDUN staff
1:21PM ( 20 hours ago )