Penn State is still paying out money in settlements and other expenses related to the Jerry Sandusky child sex abuse scandal.
Penn State recently published its audited financial statements from the 2017-18 fiscal year.
“In November 2011, the university was made aware of certain allegations in a Commonwealth of Pennsylvania Grand Jury presentment,” the financial report said. “Various legal proceedings and investigations have arisen as a result of such allegations, including criminal proceedings against former officers and employees of the university. Certain claims and civil litigation have been filed against the university with anticipation that other complaints could be filed.”
The report revealed that the university “recognized an expense” of $4 million in 2017-18. Penn State disclosed last year that it paid $16 million in fiscal year 2016-17.
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It’s not disclosed how many individuals were involved in these claims.
The university has paid $113 million in total to more than 30 individuals who say they were abused by Sandusky, a former Penn State football assistant coach.
Sandusky was convicted on 45 of 48 sexual abuse counts in June 2012. He’s serving a 30- to 60-year prison sentence.
“Additional claims could be paid in the future but without having knowledge of the number and nature of such claims the university is unable to predict the outcome of these matters or the ultimate legal and financial liability and at this time cannot reasonably estimate the possible loss or range of loss,” the financial report said.
Beyond the settlement costs, the financial report said the university incurred costs for internal investigation, legal, communications and other related costs totaling $3.5 million in fiscal year 2017-18 and $4.9 million in fiscal year 2016-17.