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8/25 Update on HSA Financials
To the Lafayette Community:
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Yesterday, a former HSA co-treasurer repaid our organization nearly $30,000 to reimburse unauthorized personal spending from HSA accounts. This evening, we filed a police report over this misappropriation of HSA funds so the D.C. Police can further investigate.
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The person who has reimbursed the HSA for misused funds served as the accounts payable treasurer before resigning this month in the midst of this discovery. The accounts payable treasurer is responsible for making payments from HSA accounts. We recently learned that this individual was using that access to make unauthorized cash withdrawals and other personal expenditures since September, 2016.
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The person who misappropriated the funds used their access to the HSA bank account for dozens of unauthorized transactions, including writing unauthorized checks, withdrawing cash improperly, and paying personal credit card charges. While our accountant’s preliminary report indicated misused funds of approximately $25,000, further investigation brought the total to $29,535.22.
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We deeply regret that this happened and have taken steps to strengthen financial oversight of the HSA bank accounts. The HSA board is run by volunteer parents entrusted to conduct their duties legally and ethically. We are disheartened someone among us took advantage of that trust. We commit to doing a better job going forward.
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We will continue to keep you updated on this matter and on our internal reforms. We urge everyone to attend the September general meeting* where we will provide more information. In the meantime, if you have any questions feel free to contact HSA Co-Presidents Chris Lisi and Margaret Lidstone at copresident@lafayettehsa.org or seek us out around the school. Because there is an ongoing police investigation, we are limited in our ability to share certain details, but we want to answer your questions where possible.
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We believe the strength of Lafayette comes from its amazing teachers and staff but also the support of parents in this community who are devoted to tackling every challenge and doing their part to make the school its best. We want to thank you for your continued efforts, especially during this time and look forward to working with the entire membership to improve our organization and to support our children’s education.
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*Note that the previously announced September 14 date now conflicts with Deal Middle School’s Back-to-School night, which was recently rescheduled. We are in the process of rescheduling our general meeting.
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