The budget deficit that drove Georgia Perimeter College President Anthony Tricoli from office last week was not the school’s first, or even second or third, according to records reviewed by the AJC. State audits and a University System analysis show the school has been overspending its budget by millions of dollars for the past four years and has whittled down its cash reserves to almost nothing as Tricoli dipped into the funds to cover the deficits. In both fiscal 2009 and 2010, the school spent more than $7 million more than it took in from tuition, fees, grants and state and federal appropriations. In fiscal 2011, the shortfall fell to $5 million. This year, which ends June 30, the deficit could hit $16 million, the largest shortfall in memory — and possibly ever — at a state college.
http://www.ajc.com/news/north-fulton/college-ran-up-serial-1436381.html
