The Amarillo College Board of Regents will convene for a special meeting Thursday evening to review the institution’s fiscal year 2024–2025 audit and discuss potential actions following the results of a recent independent forensic audit into the college’s finances.
According to the published agenda, the meeting is scheduled to begin at 6:30 p.m. in the Palo Duro Room of the College Union Building at Amarillo College’s Washington Street Campus in Amarillo. The session will include an opportunity for public comments and will also be livestreamed for those unable to attend in person.
One of the primary agenda items will be a review of the college’s regular annual audit for the 2024–2025 fiscal year. Regents are also expected to discuss potential steps that could be taken following the findings of a separate forensic audit that examined the institution’s financial processes and oversight.
The forensic audit, conducted by a national accounting firm, evaluated a wide range of financial activities at Amarillo College from 2019 through 2025. The review included analysis of construction projects tied to the college’s bond program, bank and investment account activity, internal communications among administrators, and financial reports provided to the Board of Regents. College officials previously said the investigation was initiated after internal administrative reviews identified financial inconsistencies that warranted further examination.
When the findings were released earlier this year, the audit concluded that all funds connected to the projects and accounts examined were properly accounted for. Investigators found no evidence of missing money and no payments issued to unknown or unauthorized vendors.
However, the audit did highlight several issues related to financial oversight and communication. Construction projects funded through the college’s bond program ultimately cost more than originally anticipated, largely due to changes in project scope that occurred over time. The review also found that construction management costs increased significantly after the contract for the Master Program Plan Manager was renegotiated and expanded without formal approval from the Board of Regents.
According to the findings, these changes and associated cost increases were not fully or clearly communicated to the board as they occurred. As the scope of construction projects grew and expenses rose, the college covered many of the additional costs using its unrestricted institutional funds. The audit determined that the use of those unrestricted funds was not reported to the board in a timely or sufficiently detailed manner.
College leadership acknowledged the communication and reporting gaps identified in the audit while emphasizing that the expenditures were connected to completed improvements across the campus and community facilities. Officials stated that the review revealed weaknesses in how project changes, contract modifications, and financial updates were conveyed to senior leadership and the governing board, even though the construction work itself was carried out and tied to campus development efforts.
The situation also drew responses from Chris Sharp, the former vice president of business affairs at Amarillo College who departed during the events that led to the forensic audit. Sharp has maintained that the investigation supported his position that he did not engage in wrongdoing related to the financial issues examined. He has also expressed continued frustration with how his placement on administrative leave and eventual resignation were handled.
Thursday’s meeting is expected to provide the Board of Regents with an opportunity to publicly review the audit results and determine whether any policy, oversight, or administrative actions are needed moving forward. The discussion could shape how Amarillo College strengthens financial reporting procedures and governance practices as the institution works to address the issues highlighted in the forensic review.
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