Section 1.7 Embezzlement Prevention

Policy Statement: 

Embezzlement Prevention

The Executive Director, CFO, and members of the Board shall be signers on all school financial accounts.  The Board will receive copies of the school's financial statements and corresponding bank statements periodically.  The Board will review the statements and account reconciliations to ensure that they reflect balances corresponding to the financial statements.  Payments to an employee other than regular payroll, merit pay or expense reports are subject to board review.  Bank reconciliations shall be reviewed monthly by the CFO in order to assess the accuracy of such reconciliations.