5 Ways to Prevent Fraud in Schools

Fraud in some form is happening in almost all school districts. Fraud is most prevalent where there is cash or small inventory items. Examples include ticket sales at athletic games or concessions stands, food items in the cafeteria, and even office supplies. Fraud at a higher level is also common. This could happen by creating fake bank documentation or ghost employees, embezzling from student accounts, or getting kickbacks from vendors that are related parties.

The best way to ensure your district is shielded against fraudulent situations is to implement strong internal controls. Consider these five ways to safeguard your assets through controls over the business office and other decentralized cash collections. Also, learn why employees commit fraud, the red flags to watch for, and the most common ways fraud is perpetrated.