Yonkers Inspector General Probes Missing $55 Million In School Budget

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Yonkers Superintendent of Schools Bernard Pierorazio is reportedly retiring after a $55 million accounting error in the school budget was discovered.
Yonkers Superintendent of Schools Bernard Pierorazio is reportedly retiring after a $55 million accounting error in the school budget was discovered. Photo Credit: Paul Bufano, File

YONKERS, N.Y. -- Yonkers Inspector General Brendan McGrath will launch an investigation into a $55 million accounting error in the 2012-12 and 2013-14 Yonkers school budgets, according to LoHud.com.

Yonkers mayor Mike Spano testified before the Joint Legislative Budget Committee in Albany, saying that the $55 million is "money that Superintendent [Bernard] Pierorazio accounted for in his budget, but it's money that never existed," according to the article.

The investigation comes a week after Pierorazio reportedly announced he would retire in 30 days.

Click here to read the full LoHud.com report.

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What the devil does this mean?

"Money that Superintendent [Bernard] Pierorazio accounted for in his budget, but it's money that never existed."