GARY, Ind. (AP) — Indiana’s State Board of Accounts says the Gary school district’s financial records are so disorganized that auditors can’t determine the accuracy of cash balances and spending reports.
The 105-page audit report released Tuesday looked at records from July 2012 through June 2014. The report says the district didn’t reconcile its operating bank account after June 2013, and its payroll bank account wasn’t matched to paychecks issued since July 2012.
The (Munster) Times reports auditors say accounts still hadn’t been reconciled as of July.
Gary schools Superintendent Cheryl Pruitt says the district will work with state and federal officials on its finances.
As of July, Gary schools had a $23.7 million operating deficit and long-term debt of roughly $92 million. The district has hired a Michigan-based financial turnaround specialist who was recommended by the Distressed Unit Appeals Board.