PANAMA - Paperwork errors, one of which occurred nearly a decade ago, may end up costing the Panama Central School district nearly $5 million over the next 10 years.
According to a press release, the district was informed in November that it was listed on a state aid website as being delinquent in filing final cost reports; and that the state Education Department is imposing a penalty on the district in the form of a $4.9 million fine.
The final cost reports in question were for two building projects that were completed in 2002 and 2005. Bert Lictus, Panama superintendent, said that the projects, which cost approximately $14 million to complete, included the construction of a new bus garage and renovations to the district's main building.
After filing certificates of substantial completion to receive building aid from the state, the next forms to be submitted would be the final cost reports, Lictus said.