AP audit exposes treasurer’s embezzlement

The former treasurer of a Michigan school athletic association was recently sentenced for embezzling nearly $100,000 from the organization, according to The Grand Rapids Press.

Over a period of three years, Carrie Ann Fisher misappropriated $98,588 from the Lowell Area Schools Athletic Booster – a nonprofit that raises money for concessions at district sporting events. She stole the money by writing checks to herself and her company and forging the booster president's signature.

School district officials uncovered financial discrepancies in the booster's records during a March accounts payable audit. A recovery audit revealed the extent of the embezzlement, which began in July 2008, according to the news source.

Although forgery charges against her were dismissed, Fisher pleaded guilty to embezzlement and using a computer to commit a crime earlier this year. If she repays the money before January 13, her sentence will be reduced to 60 days in jail and 90 days on a work release program.

Lack of segregation of duties can result in individual employees having too much power, which can encourage embezzlement. Organizations looking to reduce their risk of becoming victim to misappropriation should ensure a system of checks and balances is in place and AP audits are conducted at regular intervals.

Leave a Reply

Your email address will not be published. Required fields are marked *

Prove You're Human * Time limit is exhausted. Please reload the CAPTCHA.