Update: Allegations Leading to Riverwood Athletics Director's Resignation

Unethical conduct led to the investigation of Jeff Holloway, former athletic director at Riverwood High School.

Holloway resigned his position at the school, which many Buckhead students attend. He was placed on leave last week.

An allegation report released by the Fulton County Board of Education cites an athletic event at Riverwood in March 2009 by the National Underclassmen Combine, in which a check for $1,200 was made out to Holloway for use of the school field. According to the report, Holloway planned to split the funds into two payments from the Combine using money orders. A payment of $1,000 would be a school donation and the $200 would be for a custodial fund.

The money order for $1,000 is dated more than six weeks after the event.  And the $200 payment is missing.

Questions also arose following a girls’ basketball event, held last month. The report states that about $100 collected in concessions was co-mingled, by Holloway, with other funds and taken home. Area Superintendent Leonard Box, who conducted the investigation, said the action was a violation of FCBOE policy.

Box also said Holloway denied that he operated the concession stand, however Box was later informed that the athletic director was seen in the stand.

In comments to the Atlanta Journal-Constitution, on Friday, Holloway indicated that he expected to be cleared. However, he resigned as the investigation was completed.

due to an internal investigation.

According to an audit report, bookkeeping revealed expenditures in the Principal Expense Account that exceeded the limit by $6,185.35. It was recorded in a way that the account appeared to be over the limit by $86.31.

The report showed delays of up to nine days in the recording of gate receipts for athletic events. Receipts were recorded by the bookkeeper in the school’s receipt book after deposits appeared on bank statements.

The auditor found that four receipts for football totaling $19,618 were not recorded properly on the next day, as required by regulations.

For basketball, gate receipts totaling $3,318 were not recorded properly on the next business day.

The auditor wrote, “These deficiencies render assets more susceptible to loss or fraud.”

Dennis Kostulakos is serving as interim principal. Donald Macoy is serving as interim athletic director.