Georgia Perimeter President Steps Down After Auditors Uncover $16 Million Budget Shortfall
The president of Georgia Perimeter College has been forced to step aside after state officials uncovered what they say is a staggering mismanagement of school funds.
No criminal activity is being reported for now, just gross mismanagement.
About $16 million is unaccounted for, according to Georgia’s university system chancellor Hank Huckaby.
“I think it was just a matter of poor tracking of the budget process. The result of a number of people not doing their jobs appropriately and that’s unfortunate, but we’ll be very surprised if we find any indication of malfeasance or improper expenditures.”
School President Anthony Tricoli, who had held the school’s top job since 2006, has stepped aside. The head of the school’s financial office will go ahead with earlier plans to retire, and another top financial officer has been put on administrative leave.
Tricoli will be shifted to an academic post within the university system. Huckaby says there were extenuating circumstances that convinced state officials not to let him go completely. Among them, what Huckaby called a lack of transparency by Georgia Perimeter’s financial officials.
“He is at the top and the buck stops there, but having said that, I’m very supportive of the many skills and attributes that Dr. Tricoli has.”
Despite the unexpected budget shortfall, Huckaby says there will be no tuition increases next year. However, an indefinite hiring and spending freeze has already gone into effect.
“There will be budget reductions and a number of changes – many of which we don’t know exactly what they’re going to be yet – but it will be a challenging year next year, no question about it, for Georgia Perimeter.”
Huckaby says the board will shift funds to the school to cover spending for the rest of the fiscal year. But he says Georgia Perimeter will be expected to repay the funds next year.
Meanwhile, Huckaby says auditors are investigating possible financial mismanagement in previous years.
“Unfortunately and sadly we’ve discovered this a growing pattern over the last couple to three years. This is not the first year that they have run a deficit.”
Georgia Perimeter’s vice president of academic affairs will serve as interim president until the board can find a permanent replacement.
The school has grown significantly in the last five years and is now the state’s third largest public college, with more than 26,000 total students.
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