Idaho's Teton School District No. 401 will recover the rest of the money the district lost to email scammers thanks to insurance.
The district's insurance carrier, Idaho Counties Risk Management Program, said it would cover the remaining $300,000 of the original loss plus some of the expense of the cybersecurity investigation, the district reported earlier this week. The district will need to pay a $500 deductible.
As announced in January, the district already recovered $484,332.66 of the original amount of $784,000 fraudulently transferred. The sum was a monthly payment of bond money, passed by the community in November 2017 to deal with old buildings and to improve classrooms.
An FBI investigation into the matter is still ongoing.
The school district also announced the hire of a new business manager. Blake Snedaker, the current business manager of Cascade School District No. 322 in Cascade, Idaho, will make the transition to Teton Valley next month and make substantially more than his predecessor.