ATLANTA (AP) -- The Georgia Perimeter College has been sanctioned by an accreditation agency after an audit found the school was operating with a $25 million budget shortfall caused by chronic overspending and lack of financial oversight.
The Atlanta Journal-Constitution Tuesday (http://bit.ly/ZbvF2w) reported the college is still accredited, but has been warned because of the financial shortfall and lack of fiscal oversight.
School officials say they expect to have issues resolved within a year. In September, an audit by the University System of Georgia found the school's senior fiscal leaders either ignored or didn't notice the school's dire financial conditions.
Georgia Perimeter College is the state's fourth-largest public college. The school operates multiple campuses in suburban Atlanta, and offers online degree programs.
Information from: The Atlanta Journal-Constitution, http://www.ajc.com
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12/11/2012 7:41:43 PM (GMT -5:00)