Accounting error leaves Pa. district short $15M
READING (AP) – Reading School District said an accounting error has left it short more than $15 million.
Board President Robert F. Heebner Jr. told the Reading Eagle that said revenues for the 2010-11 school year were overstated by about $15.6 million. The mistake was uncovered by district auditors.
School administrators are still working to learn more about how it happened. The board’s vice president, Pierre V. Cooper, said it’s not clear what the impact will be. But officials say the district will be able to make payroll, and they’re confident that taxpayers won’t be hurt.
Three lawmakers are demanding a state audit of the district.
Jessop Community Federal Credit Union
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