SCHOOL FUNDS.

Auckland Star, Volume LXVI, Issue 57, 8 March 1935, Page 8

SCHOOL FUNDS.

DEFALCATIONS REVEALED

BELMONT HOUSEHOLDERS MEET.

A special meeting of householders in the Belmont School district was held iast evening to consider a report from the school committee on its financial position. Mr. J. W. Williamson presided. *

The chairman of the committee. Mr. (-. Arthur, in his report, said he regretted that there were defalcations in the committee's funds amounting to about £180. They had occurred"over he period since 1932. He explained that during the illness of the late treasurer the committee had discovered serious irregularities in the books \fter a complete audit by an independent firm had been carried out defalcations had been revealed. They included a sum believed to be about £100, the proceeds of the school's 21st birthday carnival, winch it had now been ascertained had not been banked.

Several of the fifty householders who attended the meeting asked many questions of the chairman and individual members of tile committee, and a section blamed the committee for ne"lio-ence J" reply to this a member of the comnnttee said that embezzlement happened in even the most carefully-organised commercial houses and Government Departments, whose frequent and apparently watertight audits were supposed to be a complete safeguard. Although lie was prepared to admit some carelessness, it was wrong to hold the committee entirely blame worthy. It was explained by another member that the funds of tho committee were held in two separate accounts, one with the Bank of New Zealand, which was audited by the Government, and the other in the Auckland Savings Bank. It was understood by the committee that the late treasurer had also submitted tho Savings Bank account to the Government auditors. That had not

been done. After a lengthy discussion, the meetin o , passed the following , resolution: "That this meeting- of householders aarees to give full support to the committee's sports day to be held on Saturday next, the fumta of which are to be handed to the committee for tho purpose, of recovering their financial losses."