Colorado PTO embezzle _ $15,000
April 2nd, 2009 by tsullivanFormer president from outside Denver arrested — after her kids tried to play lookout on her getaway effort – for stealing from her group. Grrrr.
In this case, the method was forging her co-signers signature on dozens of checks. Our most basic of financial best practices – making sure that a non-signer opens the checking statement each month — would have likely prevented this one. Also hope they’re insured.
April 7th, 2009 at 3:48 pm
We had our pta elementary school treasurer embezzle our Sally Foster money!! $14,000!!! I encourage everyone to have 2 signers on their checks and someone needs to check the bank statement every month! She did end up paying it back, but the consequences were not enough! She is still volunteering through pta!
April 8th, 2009 at 4:34 am
Our PTO President in 2007 permanetly borrowed thousands of dollars from our PTO. The then Treasurer was not keeping records of incoming monies from different fundraisers, so the President decided to take advantage of this and made up fake “bills” from companies we previously had used to purchase items for our two schools. She was paying her own personal bills with the Parents money. We eventually discovered she has done this everywhere she has lived, and has never been caught before.
July 24th, 2009 at 10:14 pm
Once you discovered that the President was embezzling money, what course of action did you take?
August 5th, 2009 at 6:09 am
The article suggests that a 3rd party open the bank statement each month. In my case, I have a 3rd party review the statement, but I like to go ahead and reconcile the account Quicken before I hand the statement over, since it can take a week or two to connect with the 3rd party. What is the advantage to having the 3rd party review it *first*?
August 5th, 2009 at 10:33 am
Regarding the question, “What is the advantage to having the 3rd party review it first” please visit our message boards to see Tim Sullivan’s answer. Thanks!
http://www.ptotoday.com/boards/day-day-pto-management/22439-bank-statement-review-who-opens.html