State audit finds financial issues in Grandview School District - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

State audit finds financial issues in Grandview School District

GRANDVIEW, MO (KCTV) -

Missouri Auditor Thomas A. Schweich found a number of troubling issues in an audit of the Grandview School District.

Schweich and his office performed the audit after enough residents petitioned for it to be done.

Among the issues uncovered in the audit was bond money meant for land purchases or capital improvements instead went to pay for $117,000 in band and athletic uniforms.

A bank had pledged to contribute $820,000 annually, primarily in the form of internships for district students, but the district didn't take any action from 2008 to 2013 to ensure it received the payments. After the bank was sold, the new owners refused to honor the commitment.

Despite this, the district continued to use the bank without seeking competitive bids for the bond sales. The district was unable to provide a detailed financial accounting of $7 million in bond spending.

Other funds could also not be accounted for.

The district's overall performance was considered fair, according to the state audit.

Schweich said the bond issues are "a big problem."

Grandview Superintendent Ralph Teran said the audit provided "good input" on ways the district can improve its financial practices. The district moved money from its general fund to cover the bond money that was improperly spent.

"We learn things along the way to help us do things better," Teran said. "So we'll do the same thing with this report and continue to do the same thing."

The district was also found in violation of the Missouri Sunshine Law, had some security issues, which related to computer passwords and other requests for proposal issues.

To read the audit, click here or go here: http://www.auditor.mo.gov/News/vNews.aspx

Copyright 2014 KCTV (Meredith Corp.) All rights reserved.

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