Portola Valley Schools Foundation defrauded of $182,500, deputies say
Original post made on Dec 9, 2013
Read the full story here Web Link posted Monday, December 9, 2013, 11:29 AM
on Dec 9, 2013 at 1:31 pm
Portola Valley School district needs to get someone in there, auditing,who knows what they are doing. Money seems to just "disappear" in that district
on Dec 9, 2013 at 2:42 pm
Easy case to solve. Checks made out to shop in Conn. that specializes in human hair extensions from overseas. I'd suggest will start dna testing of all the kids/parents to see who's hair dna does not match match thier own and we can start to hone in on the perps. Start with the foundation board of directors. Cops can take samples at next meeting. Can anyone make up such a story? Check out the website where the money went. Amazing!
on Dec 9, 2013 at 3:37 pm
Certainly, the PV District needed better financial controls. It probably now has them.
The wake up call is for the privately managed PV School Foundation. I realize its volunteer operated, but they need to either place diligent people in the Treasurer position or outsource that function to an accountant. It should be somebody's business to be reviewing the bank statements each month. It seems negligent that this fraud could go undetected from Sep to Nov!
Other Foundations should take note. Expensive lesson courtesy of Portola Valley folks. Let's hope Menlo Park and Las Lomitas Foundations are better stewards of donated funds.