The log updates ever minute or so. That’s only a notice it does cannot issue a an error 500 on the server, fatal errors do that.
The error is still there, look at the timestamp:
[code]10-Feb-2015 19:05:18 UTC PHP Fatal error: Call to undefined function get_schools_list() in /var/www/vhosts/fairfieldschools.org/district-v2/themes/FPS_District-v2/templates/partials/parents-our-schools-v2.php on line 15[/code]