An investigation is underway to determine how much money has allegedly been stolen from the Stephenville Independent School District in what officials are calling “cash transactions” from student activity accounts, Superintendent Matt Underwood said.

“Our business office noticed some irregularities back in March,” Underwood said. “Since then we have been working with auditors to get a hard number on how much (money) is missing. It’s a long process because it involves multiple years.”

Underwood said they have identified a suspect.

Stephenville Police Chief Jason King confirmed that an investigation is underway, but said they have not yet interviewed the suspect.

“We are still in the early stages of the investigation and are working with the school district to obtain the financial records,” King said. “We are treating this as a very serious matter.”

Underwood said he is frustrated with the situation and wants to make sure this employee never works for a school district again.

“You don’t steal from the kids,” Underwood said.