Thousands reported missing from Wildwood PTA account
by BRIAN NADIG
Financial records of the Wildwood School Parent Teacher Association have been turned over to law enforcement officials following reports that thousands of dollars in association funds may have been stolen.
It was reported earlier this year that the missing funds totaled approximately $5,000, but that figure could be higher. The individual who oversaw the association’s finances at the time the funds went missing reportedly is no longer involved with the association.
School and PTA representatives recently sent the following statement to parents via e-mail:
"You may recall an e-mail communication earlier this year that the PTA’s 2013-15 accounts revealed some financial irregularities. Since that time as part of our due diligence, an internal accounting audit was conducted that has revealed additional financial discrepancies exceeding the initial amount.
"We have referred the matter to all proper authorities for further investigation. Until the investigation is complete, we will not have detailed information to share on any financials in question."
The statement also said that the association has implemented better safeguards to protect its finances. The measures include eliminating cash transactions, requiring two signatures on checks, approving expenses at monthly meetings and distributing bank statements to the president and one additional board member who does not have bank access in addition to the treasurer.
Wildwood principal Mary Beth Cunat said last year that the PTA annually raises between $45,000 and $60,000 for the school. The association holds a spring fund-raiser which features a reception and an auction.
