Corruption uncovered in West Orange school district

[WOSdrummer99]

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Been hearing rumors about this for a few years. Hope the investigation finds anyone else involved.

[tvc184]

For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.

1 Timothy 6:10

[thetragichippy]

While there is no details in the link, my guess is there is no or not enough oversight.

Some of you know I'm in Banking. If you remember the Band Booster Mom that stole from Lumberton.....No oversite

They don't audit monthly or have "dual control" in a lot of cases. There has to be monthly checks and balances with several people to insure accountability and honesty.

[tvc184]

3 hours ago, thetragichippy said:

While there is no details in the link, my guess is there is no or not enough oversight.

Some of you know I'm in Banking. If you remember the Band Booster Mom that stole from Lumberton.....No oversite

They don't audit monthly or have "dual control" in a lot of cases. There has to be monthly checks and balances with several people to insure accountability and honesty.

In our union account, it requires two signatures to authorize any disbursements or deposits  

Obviously a person could forge a signature but that seems like a dead giveaway once someone starts looking.

Does requiring two signatures make any difference and at least help or are we fooling ourselves?

[thetragichippy]

43 minutes ago, tvc184 said:

Does requiring two signatures make any difference and at least help or are we fooling ourselves?

That must be grandfathered in - I have worked for 4 banks, really 2 but one changed it's name twice......anyway, When I got into banking in 2010 we were not opening two signature accounts, and we still don't . 

As far as how two signatures protect you, would depend on what bank and how much the check is. At my current bank, they almost go overboard looking at signatures on checks. I had one guy write a $10,000 check for a mortgage payment. He wanted to make sure it went through so instead of signing first and last name like he normally does, he added his middle name, thinking it would be more legit. The check was return as suspicious signature......   Other banks I've worked at you could sign Mickey Mouse and it would go through. 

With FDIC insurance as banks have, if someone does hack your account and write checks, you are protected and will get your money back.