Last graduation held at Lincoln-Way North High School

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FRANKFORT, Ill. -- It was graduation night at Lincoln Way North High School, the last for the school that only opened in 2008. The district is shutting the school in the fall.

The school board voted to close door to consolidate resources amid a dwindling tax base and shrinking student population.

In May a federal grand jury began an investigation into the alleged mismanagement of millions of dollars in public taxpayer funds mostly under former superintendent Lawrence Wyllie who retired in 2013.

He’s accused of using student activity funds for miscellaneous expenses, including a private dog training school operated on school district property.

Former superintendent Wyllie reportedly receives the highest teacher’s pension in the state at $312,000.

The grand jury probe follows the district landing on the state’s financial watch list last year after a history of deficit spending.

Some taxpayers have a lawsuit to try and stop the closing  They believe all of this was done to hide financial wrongdoing.