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School board approves reconciliation memo to return legacy grant funds after state audit findings
Summary
After a lengthy discussion, the School City of East Chicago board approved a reconciliation memo directing the return and transfer of legacy federal and state grant balances cited by the State Board of Accounts; trustees debated amounts, timing and the risk of withholding funds.
The School City of East Chicago Board of Trustees voted March 24 to approve a reconciliation memo that identifies legacy grant balances the district must reconcile with state and federal authorities, in some cases returning funds cited by the State Board of Accounts.
Nathan, a financial consultant advising the district, told trustees the memo ‘‘is cleaning up fund balances, many of them that are a decade old’’ and that the work stretches across multiple grant programs. He said the district had worked to find allowable expenditures to lower amounts due and that ‘‘the state has told us to return funding’’ rather than leave the balances unresolved.
The memo, Nathan said, covers three categories: funds that must be returned to the Department of Education, state funds that must be reconciled with the…
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