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(Shelby County) School board member David Pickler confirmed that an outside audit shows $48.4 million worth of equipment is missing from Shelby County Schools.

The audit, which was conducted from June to October of this year, broke down the numbers by legacy Shelby County and former Memphis City schools.

There were about 10,000 pieces of equipment missing from legacy Shelby County schools out of 56,290 assets reported, and about 44,000 out of 189,049 pieces missing from former Memphis City schools.

All told, 54,272 pieces of equipment are missing.

The audit also revealed 32,409 pieces of equipment that weren’t included in the original list of assets provided by the school district.

The asset numbers above do not include real estate items, like A/C units, flooring, etc. These were used in a secondary database.

Items like laptops and computers, among others, are missing.

The audit includes some reasons an item might be considered missing.

For instance, an item might have been listed in one location not yet inventoried, but moved during the course of the audit to a new location that had already been inventoried.

Damaged assets may also have been thrown away without documentation of that.

Some items are listed as both missing and new, because of inconsistencies or other issues with their ID numbers.

The company that completed the audit, ProBar Associates, included in the audit that, “Given the size and dynamic nature of the Shelby County District, higher loss rates are not unexpected.”

Click here to see the audit summary.

ProBar also included a document outlining “best practices” for asset management with its report.