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School Board slow to report $27,000 missing from Shreveport Elementary School in Louisiana.
Tracy Wood was fired from School after a late 2017 yearly internal audit at the school discovered that $26,753.23, from school fundraisers and events was missing, and Wood was the person responsible for depositing the money in the bank. The Legislative Auditor, however, wasn’t notified until December 2018, and admonished the School Board by not contacting him when the theft was discovered. With the investigation in hand, detectives were able to obtain an arrest warrant on May 18, 2018. Wood turned herself into authorities on May 26. She was employed by a bank at the time. The Legislative Auditor concluded that University Elementary experienced a weakness in internal control, which resulted in a misappropriation of assets, and “the school didn’t have adequate internal controls in place to prevent or deter theft.” But the auditor also said the actions taken by the School Board after the theft, which involved additional training of the principal. Mary Nash-Wood, director of communications for CPSB, said it’s important to keep in mind the findings in the audit are from between 2015 and early 2018 and are not recent. Wood, who bonded out of jail back in May, appeared in court in July, waived arraignment and pleaded not-guilty, but has not been back in court since.