FAU Sigma Chi treasurer steals $18K from chapter

[Kevin]

And this is why I hate debit cards.

The treasurer should be 1) bonded (if you're smart) and 2) at least not a signer on the bank account. Checks should all require the signature of the President and another designated officer. I'm sure most of our organizations have or used to have those safeguards, but even HQs are getting in the game of accepting credit/debit card payments from chapters.

[aephi alum]

Wow.

Back when I was an active, somewhere around the Mesozoic Era, GLOs didn't have debit cards. My chapter had a checking account, and all checks that the chapter cut had to be signed by both the president and the treasurer. No one could just waltz up to an ATM or a teller window and withdraw a pile of cash.

[naraht]

Back in the late 1980s, we had the requirement that they had to be signed by two out of three of the Chairman of the Advisory Committee, chapter President and chapter Treasurer.

[aephi alum]

^ OK, apparently I was an active in the late Mesozoic Era. Four signatures for one check?? I didn't think banks were even set up for printing checks with four signature lines. Two, yes; four, where would you fit all the signature lines on something as small as a check??

(Of course, we're in different lanes here.)

Then again, I remember the days when checks were printed with a date line that read ___________, 19__. Changes can be made.

#getoffmylawn

[naraht]

Originally Posted by aephi alum

^ OK, apparently I was an active in the late Mesozoic Era. Four signatures for one check?? I didn't think banks were even set up for printing checks with four signature lines. Two, yes; four, where would you fit all the signature lines on something as small as a check??

(Of course, we're in different lanes here.)

Then again, I remember the days when checks were printed with a date line that read ___________, 19__. Changes can be made.

#getoffmylawn

Which of us above mentioned four signatures? I remember marking out 19 and replacing it with 20...

[aephi alum]

Originally Posted by naraht

Which of us above mentioned four signatures? I remember marking out 19 and replacing it with 20...

Maybe I misunderstood you. You said that checks "had to be signed by two out of three of the Chairman of the Advisory Committee, chapter President and chapter Treasurer." Two chairmen, one president, and one treasurer = 4 people.

I never actually had to do the "cross out 19 and write in 20 on the date line" thing. When I opened my first checking account, the checks did have 19's on the date line, but I closed that account in the late 1990s because I had moved and changed banks, so by the time the year 2000 arrived, I had checks with the current standard date line that doesn't specify a century.

[ComradesTrue]

Originally Posted by aephi alum

Maybe I misunderstood you. You said that checks "had to be signed by two out of three of the Chairman of the Advisory Committee, chapter President and chapter Treasurer." Two chairmen, one president, and one treasurer = 4 people.

Two out of the following 3 people:
-- Chairman of the Advisory Committee
-- Chapter President
-- Chapter Treasurer

NOT 2 out of 3 Chairman of the Advisory Committee, plus the others

[naraht]

Originally Posted by aephi alum

Maybe I misunderstood you. You said that checks "had to be signed by two out of three of the Chairman of the Advisory Committee, chapter President and chapter Treasurer." Two chairmen, one president, and one treasurer = 4 people.

I never actually had to do the "cross out 19 and write in 20 on the date line" thing. When I opened my first checking account, the checks did have 19's on the date line, but I closed that account in the late 1990s because I had moved and changed banks, so by the time the year 2000 arrived, I had checks with the current standard date line that doesn't specify a century.

Person A: Chairman of the Advisory Cmte
Person B: Chapter President
Person C: Chapter Treasurer.
Pick 2. But I agree it could have been read the other way.

I'm in an even goofier situation now where my bank got taken over about 3 years ago and I'm still *successfully* using the checks that I got under the old name. (my account still uses the same routing number, so no one cares.