Administrators from Edinburg CISD told the district’s board Tuesday that they have accounted for all the funds overpaid to employees in a payroll error in August.
According to Chief Financial Officer Consultant Jesse Muniz, the district has collected all but 1% of the $6.2 million it overpaid employees, which is a little less than $66,000.
The district has also reached agreements with employees in which that 1% will be deducted from paychecks over the next two months, Muniz said.
The overpayments were part of a string of payroll mishaps, and have been a regular topic at subsequent board meetings.
Tuesday’s update, Muniz said, was “a good report to report.”
“I’ll have a formal report for you, to share with you and give to you, for my internal audit staff next month that will reflect pretty much that everything was collected, deposited and has been posted to the books,” he said, noting that external auditors would review the repayments next month.
Muniz also addressed a concern previously voiced by some trustees about lost interest on the overpaid funds.
Calculations, he said, indicate the district lost less than $300 in interest during the whole payroll saga — a figure that did not appear to raise trustees’ eyebrows.
“Right now the banks, as you know…they’re not paying much interest,” Muniz said.
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