Accounting Error returns over $1-Million to local School District
Brandon, Miss.—A recent review by the Secretary of State’s Office uncovered an accounting error by a gas company cost Rankin County School District more than $1-Million.
“To assist our school districts, our Office began review of oil and gas payments to Mississippi schools,” says Secretary of State Delbert Hosemann. “Most school districts do not have the capability or manpower to police oil and gas payments for accuracy. We are happy to assist our schools, which need every penny to educate our children.”
A 2012 audit by the Secretary of State’s Office also found Denbury to have improperly deducted $250,993 in transportation costs. Further, a review by the Secretary of State’s Office of prior years found Denbury, LLC, an oil and gas company with mineral interests on 16th Section land in Rankin County, improperly deducted $786,086.60 from prior year payments to the school district. Once notified of both discrepancies, Denbury immediately reimbursed the school district for a total of $1,037,079.60.
“Secretary of State Delbert Hosemann is a vital asset to our school district and school districts across Mississippi. He has done an outstanding job looking out for the Rankin County School District and our 16th section property,” said RCSD Superintendent Dr. Lynn Weathersby. “We appreciate his diligence and commitment to serving the state of Mississippi.”
“As oil and gas revenues continue to climb, we have no doubt as we will find other payments owed to Mississippi school districts as we continue to assess oil and gas payments to local school districts,” says Secretary Hosemann.
In 2012, school districts were paid over $24,835,530 in oil and gas revenues—up $12,185,687 since Secretary Hosemann took office.