An article that shocks no one

Dawgzilla

Redshirt
Mar 3, 2008
5,406
0
0
It was over 7 years, but no one noticed almost $3 million go missing. I didn't know a single sorority chapter could have $3 million total, and certainly not so much they wouldn't miss it.

When I was in school, our chapter was broke. Guess I never realized how much decades worth of alums will donate.
 

patdog

Heisman
May 28, 2007
59,745
30,455
113
Yeah. It’s hard to believe someone could embezzle that much without it being noticed. Always, always, always have someone without access to the bank accounts reconcile the bank statements. Or at least review them from time to time.
 

Xenomorph

Heisman
Feb 15, 2007
15,913
10,172
113
Hell yeah.. a lot of those sororities have similar revenue to a small country club. 300 members paying $400/month with food and boarding on top of that.

They aren’t all doing multi-million dollar additions because they’re going broke.
 

SirBarksalot

Junior
May 28, 2007
2,989
283
83
First Mistake: hiring a woman from Oxford to manage an MSU organization.
Last mistake : hiring a woman from Oxford to manage an MSU organization.
 

coach66

Junior
Mar 5, 2009
12,703
332
83
I used to really cringe when I sent checks to Betty

In Oxford. Turns out it was cringeworthy.
 

fedxdog

Sophomore
Dec 7, 2008
549
113
38
It's very interesting that the national sorority did not demand that the local house corporation go thru an audit. My wife is head of her sorority's house corporation in Oxford. Their auditor writes all the checks (which must be approved by 2 individuals).
 

The Peeper

Heisman
Feb 26, 2008
16,411
11,963
113
My dad had a small business for years and an accounting firm that kept the books. BUT, every year he had a completely independent accountant come in and check those books. That accounting firm was family friends but he always had their work audited, told them it was nothing personal, it was business and they understood. Sure it cost him some extra bucks every year but no money was ever stolen......
 
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