16 min
Preventing Fraud in Booster Clubs The Boosted Volunteer
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- Non-Profit
In this episode of The Boosted Volunteer Podcast, hosts Robin Eissler and Evan Eisler explore the pervasive issue of fraud within booster clubs. Sharing recent examples, they delve into embezzlement and financial misuse, emphasizing the detrimental impact on both funds and the overall momentum of these volunteer-driven organizations. They provide practical tips, including minimizing cash transactions, implementing robust approval processes, and leveraging tools like Booster Hub's check request features.
Robin and Evan stress the importance of aligning processes with modern technology to prevent theft effectively. With Booster Hub's unique tools like check request features and reconciliation systems, they offer tangible solutions for booster clubs to fortify their financial integrity.
Don't miss this golden opportunity to strengthen your booster club's financial defenses – listen now!
Highlights:
(01:55) - Example of a complex case in North Carolina where $200,000 was embezzled by booster club officers during COVID relief fund applications.
(03:06) - Example of misuse of thousands of dollars from a booster club in Texas due to lack of checks and balances.
(03:57) - Robin Eisler's personal experience with the risk of cash transactions and the importance of avoiding cash in booster clubs.
(04:41) - The development of Booster Hub's tools based on personal experiences and the need for checks and balances.
(06:19) - Example of a treasurer in Illinois keeping two sets of books and stealing $45,000 from an athletic booster club.
(09:38) - Ways to limit fraud: minimize cash usage, verify logins with multiple people, review bank statements, and conduct regular audits.
(11:53) - The importance of creating processes that align with current technology, having a budget, and conducting audits to prevent fraud.
(13:23) - Booster Hub's tools, including check request features, cash tally sheets, reconciliation system, and admin settings for read-only access.
In this episode of The Boosted Volunteer Podcast, hosts Robin Eissler and Evan Eisler explore the pervasive issue of fraud within booster clubs. Sharing recent examples, they delve into embezzlement and financial misuse, emphasizing the detrimental impact on both funds and the overall momentum of these volunteer-driven organizations. They provide practical tips, including minimizing cash transactions, implementing robust approval processes, and leveraging tools like Booster Hub's check request features.
Robin and Evan stress the importance of aligning processes with modern technology to prevent theft effectively. With Booster Hub's unique tools like check request features and reconciliation systems, they offer tangible solutions for booster clubs to fortify their financial integrity.
Don't miss this golden opportunity to strengthen your booster club's financial defenses – listen now!
Highlights:
(01:55) - Example of a complex case in North Carolina where $200,000 was embezzled by booster club officers during COVID relief fund applications.
(03:06) - Example of misuse of thousands of dollars from a booster club in Texas due to lack of checks and balances.
(03:57) - Robin Eisler's personal experience with the risk of cash transactions and the importance of avoiding cash in booster clubs.
(04:41) - The development of Booster Hub's tools based on personal experiences and the need for checks and balances.
(06:19) - Example of a treasurer in Illinois keeping two sets of books and stealing $45,000 from an athletic booster club.
(09:38) - Ways to limit fraud: minimize cash usage, verify logins with multiple people, review bank statements, and conduct regular audits.
(11:53) - The importance of creating processes that align with current technology, having a budget, and conducting audits to prevent fraud.
(13:23) - Booster Hub's tools, including check request features, cash tally sheets, reconciliation system, and admin settings for read-only access.
16 min