The Atlanta Journal-Constitution reports that state audits and a University System analysis show the school has been overspending its budget by millions of dollars for the past four years. The school's cash reserves were whittled down as Tricoli dipped into the funds to cover the deficits.
The report said the school spent more than $7 million more than it took in from tuition, fees, grants and state and federal appropriations in fiscal years 2009 and 2010. That deficit could hit $16 million this fiscal year.
Tricoli, who resigned last week, referred questions to his attorney. Chancellor Hank Huckaby declined to comment.