AMARILLO, Texas (KVII) — Amarillo College leaders faced pointed questions during Tuesday’s board meeting as regents reviewed the results of a four-month financial investigation and began discussing preventive steps and possible legal action.
The Board of Regents questioned accounting firm Weaver for about an hour about its audit findings. Amarillo College President Dr. Jamelle Conner said the college has already put immediate controls in place, including closer monitoring of cash flow and spending.
“Weekly to see where we’re sitting with our cash flows. I also get a report that shows every expenditure that we’ve had over $5,000, so I could be monitoring that. And then another one that we’ve put into place is that when it comes to CDs, there are two signatures now that the bank takes before they would make any changes or do anything with our CDs,” Conner said…