NORWAY – The town will be reimbursed for most of the money stolen by a former town employee now serving a two-year prison term for embezzlement.

The Maine Municipal Association, Norway’s insurance company, will not immediately reimburse the town in full for the $117,592 that Deborah P. Wyman stole from 1992 to 2005, explained Daniel J. Mitchel, the town’s attorney from Bernstein Shur.

But it will give the town $100,000, as early as next week, Mitchell said. And it will pay $10,000 in legal fees incurred by the case.

Wyman was employed as the community development director and part-time town clerk for 20 years, responsible for overseeing more than $5 million in federal grants. Last winter town officials discovered some accounting irregularities, which led to an investigation of Wyman and ultimately her conviction in September of felony theft.

She is serving her sentence at Maine Correctional Center in Windham for women. Eight years of her 10-year sentence were suspended.

Wyman has already paid $7,500 to the town, Mitchell said. And she has expressed a desire to repay the town in full, according to her lawyer, Edward Dilworth III.

But she does not have many assets. The 51-year-old sold her Cadillac for about $3,200 and forfeited her $2,500 bail to the town. She also sold a boat for $1,750.

Wyman still co-owns a piece of property in Waterford, according to Mitchell.

With its payment, Mitchel said the MMA has the authority to pursue Wyman to recoup the money she took. But the association has promised that if Wyman offers more, it will hand over more money to the town, up to the $117,592 ceiling.

With Wyman’s contribution and the $100,000, the town is still out $10,092.

“They will be made pretty much whole,” Mitchell said.

Selectmen Thursday night approved the settlement offer in an unanimous vote.