School finances being looked into

The Milford Daily News is reporting that the current school department finance person has been placed on leave while a shortfall of $580,000 from last years budget is investigated.

A previously undisclosed shortfall of $580,000 from last year's budget was apparently moved to this year's ledger, the School Committee announced yesterday, prompting an outside investigation and the placement of the school finance director on leave.

The discrepancy was discovered in recent weeks by Town Comptroller Susan Gagner as she squared away the district's books for fiscal 2007. Moving funds between fiscal years is illegal, as state law dictates that each year's budget be balanced individually.

It is not good that credibility in our town's finances takes another hit with this news.

Read the full story that Michael Morton has reported here.