Georgia Perimeter College remains sanctioned by an accreditation agency because of concerns over financial instability and a lack of controls.

The Southern Association of College and Schools voted Thursday to keep the college in “warning” status and review the situation in 12 months, spokeswoman Pamela Cravey said. It is the less serious of two possible sanctions. The college remains accredited.

The group first sanctioned Georgia Perimeter in December, a move the college and leaders in the University System of Georgia expected because of the school’s recent $25 million budget shortfall.

System and college officials have said they addressed the chronic overspending and mismanagement.

Still, some officials anticipated SACS would continue the sanction until they could read a state auditor’s report on the college’s 2013 fiscal year performance. That report is expected in October.