More than 52,800 Clayton County students will learn the results Friday of a three-month investigation into the school district's accreditation.

At risk are HOPE scholarships, acceptance to some universities, pre-kindergarten funding and property values.

The Southern Association of Colleges and Schools began investigating the Clayton County Public Schools in mid-November after receiving complaints of unethical behavior by school board members. The probe focuses on allegations of micromanaging, misuse of funds, abuse of power, bid tampering and conflict of interest.

SACS will share the results with interim superintendent Gloria Duncan and board chairwoman Ericka Davis before announcing it to the press at 1 p.m., said Jennifer Oliver, a spokeswoman for SACS.

SACS' recommendations will likely include mandatory steps to repair the district's status.

"It is unlikely to have accreditation revoked instantaneously," Oliver said Thursday. "If we are recommending a loss of accreditation, it will be as of a certain date."

This year's graduating class would not be affected.

SACS' board of trustees, which is scheduled to convene next month, must approve all accreditation losses, Oliver said.

This is the second time in five years that Clayton schools' accreditation is at risk.

In the past 20 years, only three school districts —Biloxi, Miss.; Hartford, Conn.; and Duval County, Fla.— have lost accreditation, according to SACS.