It’s not just treasurers who are being caught stealing funds from the organisations they have volunteered to help.  It is anyone with access to the money.  The news reports are filled with stories of treasurers and committee members who have been caught with their hands in the till.

Why do they do it?

Often it is purely because they can.  The money is right there and no one is paying much attention to the books.  Sometimes the stealing can go on for years before it is discovered.  Sometimes the treasurer is a model of honesty until a sudden event means he or she needs funds straight away.

In most not for profits and community groups the volunteers are genuine and really intend to support the group.  When they do “borrow” money the guilty party intends to pay it back.  They justify their actions by seeing it as a loan.  It becomes a problem when they realise how easy it is to take the money and repay it without being noticed, until one day they are caught.

Are there any tell-tale signs to look for?

When it is hard for other committee members to see the books.

“The new PTO board was having trouble getting the paperwork, statements, checkbook, etc., from him and passed on to our new treasurer. There was always some sort of excuse for not being able to meet us with everything. Finally, our PTO pres went to the bank to find out for herself the status of the account. Shock and disbelief hit us when we found out what he did.”

When cheques and regular deductions start to bounce.

“Smith said the congregation became suspicious when their checks started to bounce.

“Funds were diverted from the operating account, and then swept out, so that’s why there was no inkling – plus you had a person who you would never have suspected,”…

When reports go missing.

“The arrest affidavit says two audits from the last two years were missing from Homestead Sr. High School and $10,004 was traced to a theft..”

Of course, there are a lot more tell-tale signs to notice when the members of the board actually pay attention.  Often, though, the finances of the organisation are left to the treasurer because no one really understands the reports presented at meetings.  It’s the perfect scenario for full scale embezzlement.

Admin Bandit online software minimises the risk of things getting out of hand. You will know at the press of a button:

If you’d like to know more about how to minimise the temptation for your volunteers and the risk for your organisation, please contact us.