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A report from an independent auditor has found that City College of San Francisco has a budget problem so severe that it raises a "substantial doubt about its ability to continue as a going concern," the San Francisco Chronicle reported.

The two-year college had an overall student head count of roughly 63,000 during the 2018-19 academic year. CCSF has run deficits for at least three years, the audit found, and spent nearly $14 million more than it took in during the last fiscal year. College officials told the newspaper that they do not believe CCSF will close, but that it will need to make tough budget decisions.

Money woes and near bankruptcy were major factors in an accreditation crisis that rocked City College eight years ago. The two-year institution obviously survived that meltdown, which contributed to problems for its accreditor, the Accrediting Commission for Community and Junior Colleges.