The error is produced when the file path to the file used for the school logo is no longer a valid path.  Either remove the school logo option or correct the path to the file used for school logo:

1. In Mail, click Forms, and open the report card or transcript parameters
2. Select the Format tab
3. Highlight General under the Header section
4. Unmark Print School Logo OR re-map the file path to the correct location of the logo
5. Save and close the report card or transcript
6. Reopen the report card or transcript and rerun

NOTE: If working within Blackbaud Hosting Services, the logo must be placed within the Files Folder and mapped accordingly.  This allows the system to directly locate the file from within the shared folder.