Missing funds have been discovered by a local water supply, possibly as much as $123,000 taken by an employee.

The employee, who has retained an attorney, has admitted to taking at least $45,000 from the Lake Fork Water Supply Corporation which is known as the Lake Fork Special Utility District. The office is located on West FM 515 at Lake Fork.

Wood County Chief Deputy Robert Holland said the investigation is ongoing.

“There have been no arrests made at this time,” he said. “Since August of last year they thought about $78,000 was missing. The employee being investigated admitted to about $45,000. It still could be up to $123,000; that’s what the numbers look like at this time. The employee is basically cooperating. There will be more investigation before any arrest is made. We will know more further down the road.”

The missing funds were first reported June 20 in the weekly Wood County Sheriff’s report sent to the media.