PEPPER PIKE, Ohio – The Orange City School District’s insurance carriers have reimbursed the district in full for its losses resulting from the criminal misdirection of an electronic funds transfer reported last fall, Treasurer Todd Puster said in a news release Friday (May 16).
In October, the district announced that it had filed litigation in an effort to recover about $619,000 that was stolen from it via a fraudulent electronic funds transfer.
Puster said at that time that the district learned in September that one of its vendors did not receive payment for services it had provided to the Orange Schools.
The information about the district being reimbursed in full for its losses was shared with staff and parents Friday.
Superintendent Lynn Campbell said that no personal staff or student information was affected or compromised, and at no time was student learning or opportunity affected.
“We appreciate the community’s confidence and understanding as we worked with law enforcement and the district’s insurance carriers to recover the funds,” Campbell said in the news release.
“We will continue to work with law enforcement to seek prosecution of the perpetrators.”
As soon as the theft was confirmed through an investigation, the district contacted the Federal Bureau of Investigation and the auditor of state to report the fraud, Puster said in October.
In the months since the theft, the district has reviewed its internal financial controls and strengthened its policies and procedures to prevent a similar misdirection from occurring again, according to the news release.
The administration takes seriously the responsibility to be good stewards of district funds, the release stated.
