Hanretty aftermath: School districts take steps to prevent future financial misdeeds
Original post made on Oct 31, 2012
Read the full story here Web Link posted Wednesday, October 31, 2012, 11:27 AM
on Oct 31, 2012 at 12:48 pm
"Mr. Hanretty 'was able to snow two distinguished districts,' said Scott Parker, head of the Portola Valley district's board. 'These are really sophisticated boards full of people who have been serving for a number of years.'"
Sophisticated boards - really? These "sophisticated boards" appear to have completely ignored standard auditing and accounting practices.
Of course, Mr. Hanretty is completely responsible for his own illegal actions, but the people overseeing Mr. Hanretty also need to take responsible for their actions or lack thereof. Continuing to think they were "sophisticated" shows they still don't get it. Nothing about the procedures they had in place was sophisticated.
on Oct 31, 2012 at 1:32 pm
I have to agree with Resident's comments. Every small company, organization, and charity has too few people to oversee the books. You rely on the auditor and the system to minimize fraud. If the Board never spoke to the independent auditor and there was not a purchase order system in place to catch fake invoices to a contractor/employee who never did any work for the school district, don't merely blame the criminal. We all make mistakes and have been taken advantage of by con-men in some shape or form. Admit the mistake, put systems in place to prevent further issues and learn. Continuing to blame the sophication of the criminal is not and should not be the issue going forward. If the Board cannot accept thier part of the responsibility, move on and do something else. Bake cookies for the class haloween party!
on Nov 1, 2012 at 5:35 pm
The 5-member "sophisticated" Portola Valley Board has 2-3 Stanford MBA's sitting on it at any given time (currently 3), yet there was neither an audit committee nor a budget committee in place under Mr Hanretty.
Were there such committees under his predecessor, Anne Campbell, current San Mateo County Supervisor?