SAUGUS (CBS) – The Saugus High School principal has been “found.”

The superintendent’s office said in a statement Wednesday that Joseph Diorio has been placed on paid leave pending an investigation.

WBZ NewsRadio 1030′s Bernice Corpuz reports

Diorio never returned to school after the winter break and rumors quickly spread about his whereabouts.

While no missing persons report was filed with Saugus Police, teachers and students were in the dark as to where their principal may have been.

Saugus Superintendent Richard Langlois issued a statement Wednesday saying Diorio has been on paid administrative leave since last month.

“The Principal of Saugus High School has been on leave since December 18, 2012 and will remain on leave pending the conclusion of an inquiry into the management of certain financial and other affairs of Saugus High School. This leave is not disciplinary and no conclusion has been reached regarding Mr. Diorio. At this point Mr. Diorio is cooperating during this inquiry.” 

A ‘Missing’ sign in Saugus for the High School principal. (Photo by Bernice Corpuz)

The statement went on to say the town and school department are conducting an audit specific to school and town programs.

The Chairman of the Saugus School Committee told WBZ Wednesday that the audit has been ongoing.

“This audit has been going on since last year, and nothing concrete has been established just yet,” said Wendy Reed, “but we hope to have some answers very soon.”

Assistant Principal Jason Merrill has taken over for Diorio while he’s on leave, the superintendent said.