School Board OKs $4M ACPS Budget Transfer
Transfer request stems from funds mismanagement by employees no longer with Alexandria City Public Schools.
Alexandria City Public Schools superintendent asked the School Board for $4 million to cover outstanding vendor payments after a preliminary investigation revealed budget mismanagement.
Superintendent Morton Sherman sought a $4.04 million Capital Improvement Project budget transfer request. The request is based on $3.3 million in pending invoices, which have been reviewed and found to comply with Virginia law, according to ACPS. He’s also asked for about $700,000 for work scheduled for completion.
The transfer request is necessary due to the actions of staff members no longer with ACPS, which included inaccurate initial cost estimates and expenditure authorizations that exceeded the budget, according to a statement from ACPS.
Sherman in September initiated a review of CIP expenditures after concerns arose, including authorization of contracts in excess of budgeted funds and transfer of funds between projects without School Board approval.
Independent audit firm Robinson, Farmer, Cox Associates is conducting a review.
RFCA has delivered the financial reporting component of the audit with the internal controls component scheduled to be delivered to ACPS later this month.
“The complete audit was originally expected to be delivered in December. The first component has been received and is being reviewed by the board this evening,” Sherman said. “The final component on internal controls is expected to be received during the first week in February after which the complete findings will be made public.”