Palomar College Deemed at 'High' Risk of Insolvency

Palomar College, a two-year institution in Southern California, is at "high" risk of insolvency, according to a state review requested by the college, the San Diego Union Tribune reported.

The report by the Fiscal Crisis and Management Assistance Team, a statewide agency designed to provide counsel to local educational entities, cited antiquated business practices, structures and processes leading to uncontrolled spending outpacing revenue growth, the newspaper said.

Palomar's Faculty Senate has voted no confidence in President Joi Lin Blake, citing the budget issues, among other factors.