The Ohio Department of Higher Education has placed Terra State Community College on fiscal watch after an audit revealed a nearly $11.5 million operating loss, late paid invoices, and overdue vendor payments. The college's former president, Ronald Schumacher, resigned on April 2 and has appointed Cory Stine as interim president. The audit revealed numerous errors in college financial statements, including not properly submitting employment taxes and Medicare withholdings to the federal government, and a significant deficit in 2024. As of June 30, 2024, the college owed $681,000 in unpaid taxes, $12,830 in interest and $16,550 in penalties. The school remains fully operational and students, faculty, and staff should expect no disruption to academic schedules, campus services, or daily operations.