The Indiana State Board of Accounts has issued a report saying the estate of the former Tippecanoe Valley School Corp. treasurer must reimburse the district $244,140 for credit-card charges and $34,916.63 for undocumented checks.
The report was issued Friday after an emergency audit looking at the district’s records between Jan. 1, 2010, and Jan. 31, 2013.
Superintendent Brett Boggs responded in a letter dated April 25, in which he expresses regret for the circumstances of the audit following the death of Sherri Adamson.
He said the district believes the audit results to be “an accurate reflection of the misuse of public funds by the former corporation treasurer” and that those who manage and govern the district are “deeply disappointed” in her actions.
Boggs noted that a significant number of the transactions happened during a time when the district was in the process of replacing a retiring deputy treasurer, and Adamson had assumed the duties of both positions.
The letter said the district is bonded – and was correctly bonded when the funds were taken – and will make every effort to ensure proper procedures are used in the future.
The funds came under scrutiny in early January after Adamson’s purse was reported missing to police, according to an investigation report distributed Wednesday by the Kosciusko County Sheriff's Department.
The purse later was found with district checks written to Adamson and signed by her, the report said.
Adamson died in early January at age 50.
The audit cost $28,149.55, according to the summary of charges.
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To read the entire letter from the superintendent to the Indiana State Board of Accounts, click here:
To read the entire report by the state board, click here: