The Toms River school district has received its first installment of money owed to taxpayers in the wake of the scandal surrounding former Superintendent Michael J. Ritacco.
An insurance payment of $909,000 has been received by the district, board member Joseph Torrone announced at a meeting Tuesday night.
The payment represents the first installment of $2.3 million the district is owed by its insurance carrier, said Stephan R. Leone, the school board's attorney.
The remaining payments are "still being resolved," said Torrone.
An additional $4.3 million is owed to the district by Ritacco himself through court-ordered restitution, said Leone.
As part of his sentence, Ritacco must pay a $1 million fine plus restitution. In Dec. 2012, records show, the federal government filed a lien against Ritacco in the amount of $4,437,187.91. The lien was recorded with the Ocean County Clerk’s office in Feb. 2013.
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