Financial cuts looming for Ga. Perimeter College

ATLANTA (AP) — The new leader of Georgia Perimeter College says he wants to have a rough plan to close a massive financial deficit by next week.

Interim President Rob Watts is working to find ways to bridge what could be a $25 million deficit by next year.

Watts told the college's faculty and staff during a Friday meeting that the school must protect teaching programs for its 27,000 students. But some reports are saying that Watts said that 90 percent of the college's budget is spent on personnel.

University System of Georgia Chancellor Hank Huckaby disclosed the shortfall earlier this month and announced that the college's previous president, Anthony Tricoli, had stepped down. Watts said prosecutors are reviewing the situation because of allegations of fraud.