Penn State University has updated the costs associated with the Jerry Sandusky scandal. According to records posted on the university’s “Progress” webpage, the total outlay now stands at a staggering $42,942,799.
That figure is accurate as of January, 2013. The update is delayed because it takes several weeks to collect the most recent costs. Most of the money was spent on legal expenses. Penn State expects its insurance policies will pay for some of these expenditures.
Here’s how it breaks down:
Penn State has paid the first installment of the NCAA’s $60 million fine: $12,000,000
Attorney’s fees: $8,149,659
Independent Monitor: $1,179,172
Board of Trustees – Legal Services, Consulting Services and Communications: $5,646,391
University Legal Services/Defense: $8,428,934
Externally Initiated Investigations: $571,355
Indemnified Persons’ Legal Defense: $5,097,305
Other Institutional Expenses: $1,869,983
Total as of January, 2013: $42,942,799
Costs related to the Sandusky scandal will continue to grow. Penn State is negotiating with dozens of victims who say they were abused by Jerry Sandusky. Three former Penn State administrators face trial, including former Penn State President Graham Spanier, former Vice President Gary Schulz, and former Athletic Director Tim Curly. Those men face five counts each of perjury, endangering the welfare of children, failure to report, criminal conspiracy and obstruction of justice.
Jerry Sandusky is serving 30 to 60 years in prison for sexually abusing children.
