Accounting error nets school system $1M-plus
Published: November 8,2013
BRANDON — A billing mistake worked in favor of the Rankin County School District to the tune of more than $1 million.
Secretary of State Delbert Hosemann presented a check to the school district yesterday.
The error was attributed to an accounting problem by a gas company that leases oil and gas rights from the district. Hosemann says the error was caught by his office during an audit.
Hosemann says the money was returned to the district by Denbury, LLC, an oil and gas company with mineral interests on 16th Section land in Rankin County.
Hosemann’s office found improper deductions.
Hosemann says the company cooperated to correct the error.
While the money is required to be invested, the district can use the interest to fund its operations.
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