Beaumont I. S.D. addresses finances - 12 News KBMT and K-JAC. News, Weather and Sports for SE Texas

Beaumont I.S.D. addresses finances in 'Focus on Finance' presentation

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The Beaumont Independent School District hopes for a brighter outlook when it comes to finances with help from a consultant. 

The district held a presentation Monday night.

William Lenhart with WCL Enterprises has been hired to help get the district's finance department back on track. 

Monday Lenhart detailed actions taken to address financial problems in the district like the embezzlement of four million dollars. He listed the alleged conspiracy by two former employees, weak oversight and lack of documentation as just a few reasons behind the embezzlement. 

Lenhart says he has reconciled all bank accounts within the district. And also wants to centralize student activity funds which does not include booster clubs.  This means rather than letting school principals and what Lenhart says are often under qualified secretary's handle the money, qualified accountants would handle it instead. 

Lenhart estimates the district will have about $100 million in its general fund balance through the end of the fiscal year.

After calculating expenditures it's estimated the district will end the year with about $15 million in the fund balance.

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