As public agencies and corporations grow and expand, it becomes more difficult for them to carefully monitor their funds. In addition to the challenge of ensuring that every penny is accounted for, these entities are often forced to entrust financial decision-making to one person. Investing this fiscal responsibility should not be taken lightly, and without proper AP audit solutions, instances of fraud and embezzlement become more prominent.
According to The Kansas City Star, Teresa York, former Jackson County court administrator, recently pleaded guilty to the theft of nearly $140,000 since January 2009. As a public official entrusted with funds, it was the accused's duty to safeguard the money that fell under her purview. Additionally, York was also responsible for managing the court's human resources, record systems and IT. Her duties related directly to "several hundred court employees," reported the source.
"It is a sad day when a government official who was responsible for overseeing public funds commits a crime and violates the public's trust; nevertheless, today justice has been done," said Jackson County Presiding Judge Marco A. Roldan in a statement about the crime. "Ms. York will now be held accountable for her actions."
BizJournal reported that York used her access to court-paid credits cards to purchase gift cards from Amazon, clothing, makeup and other personal items. If convicted, she will face up to 20 years in prison and will be forced to pay restitution for the amount of the fraud.
In order for businesses and public entities, such as in the example above, to preserve the integrity of their employees and mitigate the possibility of embezzlement, they should leverage accounts payable solutions.