Charter School -- Opportunity for Embezzlement

An executive office with:

$145,000 in expenses that included flat-screen TVs, lavishly appointed bathrooms, and a kitchen with granite countertops; $46,000 in improvements to a principal's home billed to the school; and, $34,000 to the school board president who approved rasises for the top exec and a 20-year consulting contract for more than $100,000 annually for 90 days' work or less.

These are some of the abuses the Philadelphia charter-school CEO and Board President are being accused of, according to a story in the Philadelphia Inquirer.  The former founder, also implicated in this federal investigation, killed himself several weeks ago.

So clearly, the controlls needed to steer this level of embezzlement away were not in place or controlled so as not to be effective.  I've gotta admit that when the Exec and Board Chair are in cahoots, it's tough to be preventive.  On the other hand, I do wonder about the finance committee's capacity to ask financial questions effectively.  All must bear some burden for this situation.