Say I was really not thinking this one morning. I took someone's coat sitting on a desk, and set it in my locker and forgot about it. The next day I got paged, and they told me I've stolen a coat, and the person might lay charges on me. What are the possible penalties? Despite it will go on my record.

How old are you? And where are you at.

Law is different for minors and adults in the US,

I am at Ontario Canada.
Attending Secondary school, and I am 18. First time ever, I wasn't thinking, I guess that's what they all say...
I was told that the person might press charges. If that happens what options do I have? The possible penalties?

If this is a first offense, you can enter a diversion program where you perform some service to the community in return for having the charges dismissed so you wind up with no criminal record.

I have some questions though. Was the coat at the desk of the person it belonged to? Can you claim that you thought it lost and was going to turn it into lost and found?

No, because the person's keys was in it, it dropped out, and they say I took it out, so they are taking it as 100% theft. I've been 100% honest to the principle, and I'm a very academic student, I am just worried if this would by any chance go on my record, because it would basically ruin my life.

No, because the person's keys was in it, it dropped out, and they say I took it out, so they are taking it as 100% theft. I've been 100% honest to the principle, and I'm a very academic student, I am just worried if this would by any chance go on my record, because it would basically ruin my life.