Financial Controls: Another Board Member Arrested for Embezzlement

Written by PC News on . Posted in Board Members, Financial Controls

Another small, volunteer run association has been hit by news that a trusted board member has been arrested for embezzling money from the association.  (Full Story Here).  In Fairview, Tennessee, a 38 year old mother of three was charged with stealing over $60,000 from the soccer association over  a period of years.  The volunteer had served as secretary, treasurer and later president of the soccer association.  The theft was discovered during efforts to reconcile the association’s bank accounts.

Soccer associations can operate on the thinnest of margins and the theft of a substantial sum can imperil the continuation of the association’s programs.  At Placek Consulting, we can review your financial controls policies and help put in place Best Practices to prevent misappropriation of association funds and identify leakage at the earliest opportunity.