Friday, June 20, 2014
AUGUSTA, Ga. (WRDW) -- Paine College is on probation with a group that makes sure universities meet certain standards, the college confirmed.
Paine College remains fully accredited by Southern Association of Colleges and Schools Commission on Colleges (SACSCOS) while on probation. It cited some major concerns about the qualifications of some financial administrators.
Paine College will need to fix financial issues that include paying back on its line of credit other issues include closing their financial books in a timely manner, Paine College President George Bradley said.
"SACS has been very fair. They've given us two years under warning to make sure we hit the mark. We're not there yet, we're not going to make any excuses, we have a plan we're going to move forward," Bradley said.
The president says since that first warning, the college has had three chief financial officers. According to SACS, those financial problems still continue.
The accrediting body put a 12-month warning on the college in 2012 for failures on certain finance issues, which include control of money, financial stability and even hiring qualified folks to control certain financial issues.
"Failure to correct deficiencies or failure to make satisfactory progress toward compliance with the Principles of Accreditation," SACSCOS' policy states. "An institution must be removed from membership if it has not demonstrated compliance with all the Principles of Accreditation with in the two-year monitoring period and has not demonstrated Good Cause as to why it should not be dropped from membership."