(Bloomberg) -- The U.S. Naval Academy boasts that it’s produced leaders from Senator John McCain to Admiral Michelle Howard and basketball star David Robinson. But these days auditors say the training it offers is undercut by an aging campus plagued by water leaks and outdated electrical, heating and air conditioning systems.

A previously undisclosed report by the Naval Audit Service warned the deteriorating academy in Annapolis, Maryland, poses potential “hindrances to executing the academic and physical fitness mission” while risking the “loss of academic accreditation” as well as “safety and health hazards and regulatory violations.”

It also cited possible “damage or loss of significant Naval historical documents, pictures, and artifacts” at the school founded in 1845 as “The Naval School” on a 10-acre Army post.

Funds Promised

In response, the vice chief of naval operations designated the academy as a “flagship institution,” according to the auditors, and the Navy plans to allocate $15 million every other year for infrastructure improvements beginning in 2020.

The auditors blamed the academy’s deterioration on a “decrease in resources allocated” for upkeep and restoration. Needed improvements “have been planned, but not funded,” they wrote, as lawmakers focused instead on the readiness of Navy aircraft and vessels.

The academy audit may come up Wednesday, when a Senate Armed Services subcommittee is scheduled to hear from Navy Secretary Richard Spencer and General Robert Neller, the Marine Corps commandant, about readiness issues.

The academy “concurs with the findings” and “we look forward to addressing the discrepancies in the report and with additional funding look forward to ensuring the Naval Academy remains a modern flagship institution,” Commander David McKinney, a spokesman for the academy, said in an email.

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