$70,000 vanishes from Georgia college account

Friday, Dec. 9, 2011 7:04 AM
Last updated 9:44 AM
  • Follow Latest News

KENNESAW, Ga. — An audit has found thousands of dollars missing from Kennesaw State University and it’s not certain the money will ever be found.

WSB Radio reports that the money was called “K-Cash,” and involved students contributing to their K-Cash accounts and then using it to buy books, meals or printing copies of paperwork.

Authorities say the audit revealed that about $70,000 was taken after students put money in their accounts, but before the school put it in the bank.

Kennesaw State Vice President Arlethia Johnson tells WSB-TV that authorities “can’t put an exact handle on a particular person who is tied to the missing cash.”

No charges have been filed.

Comments (10) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
LikeItIs123
0
Points
LikeItIs123 12/09/11 - 09:08 am
0
0
Why are we not surprised.

Why are we not surprised. Another of the infinite examples of our WASTED TAX $$$$

bjphysics
36
Points
bjphysics 12/09/11 - 09:16 am
0
0
“$70,000 vanishes for Georgia

“$70,000 vanishes for Georgia college account”

Correction:

$70,000 vanishes FROM Georgia college account

Riverman1
87623
Points
Riverman1 12/09/11 - 09:16 am
0
0
Man, what is it about people

Man, what is it about people stealing from schools? That seems to happen so often. Student organizations that leave their money with trusted people are too often ripped off. Hard to fathom.

Bruno
780
Points
Bruno 12/09/11 - 12:49 pm
0
0
A smart student would use his

A smart student would use his or her bank account or cash for all of those transactions. There is simply no need for "K-Cash". Why would you put money into the school's coffers so that they can earn interest on your money?

Sweet son
10818
Points
Sweet son 12/09/11 - 01:39 pm
0
0
I think 'LikeItIs' misread

I think 'LikeItIs' misread the article. The money that was missing was not wasted tax dollars. It was students' money that was stolen by a Kenesaw employee or employees. Although, bad government employees will steal tax payer monies too!!! Charges and penalties should be higher because those who steal from the tax payer have violated a public trust in them!

augusta citizen
9731
Points
augusta citizen 12/09/11 - 01:41 pm
0
0
Vanished huh? As in abra

Vanished huh? As in abra cadabra poof! This is terrible, I sure hope they catch the jerk.

raul
5348
Points
raul 12/09/11 - 02:32 pm
0
0
Umm, maybe they should

Umm, maybe they should utilize one of the accounting professors from the business department to implement some stronger internal controls for the K-Cash account.

I tend to agree wit Bruno, why would student put their money in this K-Cash account when they could use their own checking account. Oh well.

augusta citizen
9731
Points
augusta citizen 12/09/11 - 03:05 pm
0
0
I wondered the same thing you

I wondered the same thing you and Bruno did, Raul. I wonder if they are strongly encouraged by the University to utilize this K-Cash system. I would suspect they are. You know how this kind of thing works, the more programs, the more employees, fees, etc.

carcraft
27309
Points
carcraft 12/10/11 - 06:26 am
0
0
augusta citizen- Yep, just

augusta citizen- Yep, just like that! You can ask Jon Corzine how it is done 1.2 billion in investor funds vanished from in front of Jon at MF Global!

rmajor
8
Points
rmajor 12/10/11 - 08:22 am
0
0
This means they didn't have a

This means they didn't have a good system of checks/balances where at least 2 people deal with the money at all times with date and time stamps everytime. This is a situation where several people were trusted and maybe one or two saw a way to steal the money because they knew that no one person could be held accountable. I have worked with loss prevention a lot, and have seen this sort of thing. However, in the situations I've seen, unfortunately, all of the potential people involved got fired!

Back to Top

Search Augusta jobs