School Money: Where Does It Go? The Problem of Accepting Cash in Schools

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School Money: Where Does It Go? The Problem of Accepting Cash in Schools

Learning and responsibility are core values of school districts; however, what often makes headlines is “fraud and mismanagement in schools.”  How is it that schools are so susceptible to fraud?  The reality is that when cash is accepted as payment for student activities there is opportunity for mismanagement.

Districts across the nation often see the problem of mismanagement of money in schools.

  • A recent case from Houston, Texas, January 2017, details a PTO president who stole over $100k from an elementary school.
  • In Davidson County North Carolina, January 2017, a retired teacher was in the news for embezzling $350,000 dollars.
  • Pasco School District in Tampa Bay was in the news, January 2017, with $20,000 in missing school money from the high school athletic booster club reported.
  • In October 2016, Kenosha School District, in Washington, was in the news for lack of proper accounting and conflict of interests from the district booster club president.  Fox News reported in their coverage that the Kenosha Unified School District said the club historically raised $50,000-$70,000 a year.  However, the district couldn’t say what happened to the funds.

The common theme among all of these cases, revolves around a lack of reporting and the problem of cash being allowed into schools in the first place.  When cash is used there is no digital trail and a lack of transparency opens the door to fraud.

At ClassWallet, our unique tracking and reporting solution can help eliminate fraud in schools.  Contact us today to learn how we can help.