D-20 Reporting Error

The error could cost Academy School District 20, $255,000. A Colorado Springs leasing company, Compaq Financial Services,
overestimated the value of its equipment for two tax years.

El Paso County tax assessor says the company now is asking for
the money back. If the request passes the review of tax officials, It would be the biggest such refund ever in El Paso
County.

School officials say they will tap their reserve fund if necessary to repay the money, avoiding any need to cut school spending.


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