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The money had been collected by students for their prom, yearbook, a senior class trip to Europe and other activities.
Jesse Henderson, 41, of Hartford, was arrested Wednesday and charged with first-degree larceny, police said.
The arrest was the result of an investigation that began in October 2006 when City Treasurer Kathleen Palm noticed what she said was irregular activity in multiple student accounts at Bulkeley and at the Martin Luther King Elementary School.
Henderson at the time was a Bulkeley accounting clerk who handled student activity accounts, and was responsible for submitting bank deposits for student activities.
Henderson has been released on $20,000 bond and is scheduled to appear in Superior Court Oct. 3.
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Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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