As you are aware, the Cambridge Central School District was recently the victim of a cyber fraud incident involving the unauthorized transfer of approximately $461,000 from our Capital Construction Fund.
Upon discovery, the district immediately engaged local law enforcement, legal counsel and our insurance providers. The district is currently working in close coordination with the New York State Police, the FBI and the U.S. Secret Service. While this remains an active investigation, our primary focus is the recovery of these funds.
We have been informed that $316,990.01 of the funds have been successfully recovered and deposited into our capital account, and efforts continue to recover the remaining amount. Additionally, the district has received $100,000 through its existing cyber insurance coverage.
The district extends its sincere appreciation to the law enforcement agencies for their diligent work in recovering these funds so quickly and for their work in attempting to recover the remaining balance.
To safeguard district finances, the district continues to review internal controls and additional checks and balances around banking and purchasing due to this incident and the increasing rate of cyber attack cases occurring regionally and nationwide.
We can assure the community that this will not impact district operations and this fraud incident does not impact the ongoing 2026-27 budget development process.
The Board of Education and district remain committed to transparency as we work diligently to resolve this matter.