Accounting Error Leaves Pa. District Short $15M

Accounting Error Leaves Pa. District Short $15M

Updated:
READING, Pa. -

The Reading School District says an accounting error has left it short more than $15 million.

Board President Robert F. Heebner Jr. tells the Reading Eagle http://bit.ly/100L2g2 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, says 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.

 

Information from: Reading Eagle, http://www.readingeagle.com/

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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