UPDATE: 5:15 p.m. In a statement obtained by HuffPost, the Henry County School District in Georgia said superintendent Mary Elizabeth Davis reviewed the facts in the case and conferred with local authorities who do not believe the student was aware the bill was counterfeit and has decided to reverse the disciplinary boards decision to suspend the student. Davis also will review the entire Code of Conduct and the process for assigning consequences for student infractions.

We are in the business of educating students, the superintendent said in a statement. And while it is our responsibility to ensure our expectations uphold a safe learning environment, we must never omit sound judgement in matters so closely impacting our students lives and their education. The student has returned to class.

PREVIOUSLY:

A Georgia school district is punishing a 12-year-old honor student after he used counterfeit money to pay for his lunch. The boy and his parents claim they had no idea the bill was fake and even filed a police report. Still, school administrators say they wont lift the 10 days of in-school suspension the boy received.

The whole process has been unfair, Christian Philon told Atlantas WSB-TV .

A straight-A student and athlete at Austin Road Middle School in Stockbridge, Christian said he was sent to the assistant principals office on Jan. 10, after using a $20 bill his father gave him to pay for lunch. Christian said the school told him the bill was counterfeit and gave him an in-school suspension.

They said, You possessed it, so youre going to have to pay for it, he told WSB-TV.