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Cabot schools report two unauthorized bank withdrawals; district says bank reimbursed funds and controls tightened
Summary
The Cabot School Board reviewed an audit noting two unauthorized withdrawals from a district account. District leaders said the bank reimbursed the funds and that new internal controls and greater use of electronic payments have been put in place.
The Cabot School District Board of Education on Tuesday reviewed a legislative audit that identified two unauthorized withdrawals from a district bank account and discussed steps the district has taken to prevent future fraud.
The finding was the only formal audit issue the review team recorded, district officials said. Board members were told the bank returned the funds after the unauthorized…
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