How do you steal $132,000 from Athletic Dept?

[gfluvsthecocks]

^^^^
This & now I manage several of those reports & folks that submit those to the folks I manage, and I still send mine to folks who approve mine who forward their’s to folks above them who approve their’s.


Virgil ?

I read that he was falsifying the receipts, so I guess he was making it look like his transactions were more relevant to his duties and whoever had to sign off on it had no clue. All of the purchases were off two websites so it must have been easy for him to change the item description but keep the price the same.

 

[pepsicock]

The person bought condoms on this credit card . Hello red flag alert

 

[cockspur77]

HELLO, expense reports !

totally lost here with the lack of accountability. Typically any provided card has some reporting mechanism for managers to monitor, and senior leaders to go........hmmm why did this account manager spend $100K (or $100,000) more than this account manager.

Lack of leadership to blame here.

Lack of oversight...institutional failurw

 

[JeffTweedyFan]

Well, I work for the University and have a purchasing card. Of course, I am a low ranking staff and have a small limit, but the statement from the card company comes and I have to attach the original, or a copy, of the paid receipt to the statement. It is then reviewed by my supervisor and the person in the office designated the liaison, who both have to sign off on it. Perhaps their procedures are a bit different from ours LOL.

Was it a p-card? Or an actual credit card? No way he makes those purchases with a p-card.

 

[robertfootball]

Sounds like Ray has his own swamp that needs draining.

 

[robertfootball]

Was it a p-card? Or an actual credit card? No way he makes those purchases with a p-card.

If I had to guess I bet it was tied to an expense account but still that should have been caught in no time.

 

[Horseshoe 04]

Lack of oversight...institutional failurw

Live UVA giving up 36 points

 

[sgacock]

The State has an article about a staff member who used his university credit card to buy himself $132,000 in merchandise. This went on for three years before someone noticed! How stupid does a person have to be to think he wouldn't get caught? How stupid do university officials have to be to not recognize it for three years???

So somebody stole 45,000 a year out of over 100 million dollar annually produced. That’s peanuts as s percentage and it was caught.

I wish the federal government was that efficient.

 

[JSpears5]

So somebody stole 45,000 a year out of over 100 million dollar annually produced. That’s peanuts as s percentage and it was caught.

I wish the federal government was that efficient.

You are kidding right. That is managerial failure. My company is a billion dollar company and I had a expense report rejected today over $7. That is how you stay a billion dollar company. One guy stole $130k and it took 3 yrs to find it? Who is guarding the hen house. If this was another school, this whole board would be talking about funneling this money to players and you think it is no big deal.

If one got away with it with no oversight, how much else is out there? Think of this way, how much of this money came out of your pocket? Did you pay for his condoms?

 

[JGH 35]

That's because for-profit businesses can deduct the expenses and are required to maintain the backup (receipts, etc.) in case of an audit. Since non-profits are not taxed, they aren't required to maintain similar records.

On the other hand, being the recipient of public funds, the University is required to have an annual independent audit whereas most non publicly traded companies do not. They are audited every year by an independent CPA firm. While such audits are not designed to detect fraud, they do serve somewhat as a deterrent, and from time to time do uncover theft.

 

[mavcock]

The person bought condoms on this credit card . Hello red flag alert

Yeah, but when he was whining like a little b&^ch about being caught, he mentioned that he was about to become a father. So he couldn't even figure out how to use them condoms. Loser.

 

[rogue cock]

On the other hand, being the recipient of public funds, the University is required to have an annual independent audit whereas most non publicly traded companies do not. They are audited every year by an independent CPA firm. While such audits are not designed to detect fraud, they do serve somewhat as a deterrent, and from time to time do uncover theft.

Very true.

 

[Horseshoe 04]

I like folks living in reality with accountability
They are my fav!