To reduce the risk of future instances of fraud, the district knew it had to build the financial structure to reduce cash in schools, track school fees, and enforce internal controls. With the leadership team aligned, the district was about to change the way school fees had been managed for decades. They knew that the new solution would only be successful if they could get principals, bookkeepers, and parents to embrace the new way of doing things. Finding a solution that was user friendly and easy to learn was a high priority. The district placed its trust in the School Cash Suite for this initiative. Using the system, several fraud prevention measures were implemented.
Online Payments: fees began to be collected online and were deposited directly into the school bank account to take cash out of the schools.
Audit Trail: transactions collected online or within the schools began to be recorded digitally and were accessible through reports in real-time.
Internal Controls: the district implemented standard processes for cash handling, bank reconciliations, and financial reporting.