ROCHESTER, N.Y. (WROC) — The federal government has started an investigation into the financial problems at the Rochester City School District.
The Securities and Exchange Commission (SEC) issues a subpoena for documents from the district. The SEC’s job is to protect investors and the spending of tax money.
The investigation comes after RCSD announced a $30 million budget shortfall earlier this year.
A city attorney called this a “serious matter.”
The budget issues have been debated as to who is responsible for the shortfall and what can — and should be done. Superintendent Terry Dade has himself publicly endorsed staffing cuts for the district.
Dade himself was only a few months into the job when this situation first became public. The district’s Chief Financial Officer recently resigned, was replaced by the current Monroe County CFO, and two deputy superintendent positions was consolidated into one.
Still, there’s a long way to go to close the budget gap, and teachers remain concerned.
A district spokesperson refused to comment on the investigation.
More stories on the effects of the RCSD budget issue:
- 2 RCSD administrators let go as part of district’s ‘restructuring process’
- RCSD asks parents for ideas to solve $30M budget gap
- Mayor Warren on RCSD finances: System ‘clearly broken’
- RCSD after school program postponed due to budget shortfall
- RCSD cost cutting plan revealed, leaving teachers nervous