Officials at one Columbus charter school were trying to figure out how nearly $250,000 disappeared.
The money was supposed to have been paid into two retirement systems on behalf of teachers and staff at the ScholARTS Preparatory and Career Center for Children, located on East Lexington Avenue.
The charter school is affiliated with the Brookwood Presbyterian Chruch.
Consumer 10 notified ScholARTS’ former treasurer that a police investigation was under way. On hearing the news, the man told Consumer 10 that he felt “physically ill.”
He said that the money that should have been paid into the retirement funds was used to pay other bills instead.
A lawyer for the school said that the treasurer had no authorization to divert the funds.
Some employees now are worried about their financial futures.
“People cannot cash in their retirement if they leave employment, and I want to,” said Ellen Wristen of the Brookwood Community Learning Center. “If they go on disability and they want, they’re not getting credit for the year, so they don’t have credit for the money. People are losing years in their retirement account for non-payment.”
School officials said that they now are repaying the money that should have been paid into the accounts between 2010 and 2011.
The school said that it would hire a forensic accountant to look at the school’s books.
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Charter School Trying To Determine How $250,000 Disappeared
A quarter of $1 million that was supposed to have been paid into two retirement systems of behalf of teachers and staff was used to pay other bills. Get details.
