Fraud and theft: How to protect your school

The best method to prevent this issue is to protect emails and financial data. Due to Open Records Acts, we can’t really stop someone from knowing who our vendors are, when we are doing large projects or with whom our assets reside. However, we can protect our emails and other vital information. 

For example, if you use Google mail, you need to have the two-step verification system at a minimum. No one should do any school business using a personal email address.  

Additionally, before the treasurer sends something out, the transfer must be confirmed. If the bank makes a transfer on a lease-purchase, the school should have an authorization network. After all, this is public money, and schools must follow normal procedures for encumbrances.  

Best business practices can often be tedious, but procedures have been established to protect the public’s interest. Even if we do everything right, there can still be an issue, but proper procedures do reduce the likelihood of fraud or theft. In the new year, make a point to examine several items:

1. Proper procedures for encumbrances and issuance of warrants need to be reviewed.
2. Insurance policies and surety bonds need to be reviewed for extent of coverages in the event of cyber crimes and general coverages.
3. Inventories of buildings, vehicles, electronics, etc. should be evaluated for accuracy and actual value and cost replacement.
4. An inventory of school emails would be appropriate; school business should not be done from a personal email.

These are just a few suggestions.  As always if we can be of assistance, please feel free to contact me anytime.