From November 2016 to May 2018, the treasurer of a Parent Teacher Organization stole over $57,000 from the organization. Tami Herrold made 162 fraudulent charges or withdrawals during the two years and no one was watching. The money is gone now.
The problem is that board members weren’t watching because they had no way of easily doing so. Tami had all the financial records and there was no organizational framework in place where board members could access records whenever and wherever they wanted to keep an eye on the money. This allowed Tami steal.
Office of the Board is the framework that PTAs and PTOs require in today’s digital age. It has built-in fraud detection. For example, bank statements can can saved in the PTOs or PTAs Office of the Board and watch alerts set. Board members are alerted when bank statements are upload or modified in any way. This allows them to keep an eye on the organization’s financial records effortlessly and review the records whenever and wherever they require. Everything can take place inside the Office of the Board framework so fraudsters like Tami are either deterred or discovered immediately rather than 2 years down the road.