In late October 2018, we wrote to the community in light of the public announcement of fraud and embezzlement at the Glebe Parent’s Daycare (GPD). We committed to reviewing OSCA financial procedures, in light of the Glebe situation, and reporting back to our community on our findings.
According to the GPD, the issues which led to the fraud focused primarily on how the GPD processed expenses. The GPD has now established a number of improvements to its processes. Fortunately for OSCA, our financial procedures already incorporate the changes which are now being implemented at GPD.
After a significant review of OSCA’s financial processes, the OSCA Board concludes that OSCA’s procedures are robust. This does not mean that OSCA will become complacent. In fact, the OSCA Board has decided to put further emphasis on its fiduciary responsibility. This further emphasis is not because we have found problems, it is because we want to work hard to avoid them.