Statement of VASRA Past President John D. White
Regarding VASRA Accounting Practices
As reported in a recent news article, the Virginia Scholastic Rowing Association (VASRA) discovered October 4, 2010 that a long-time volunteer treasurer had misused club funds. This discovery and subsequent investigation led to the arrest and prosecution of the volunteer. Beginning in October of 2010, the VASRA Board of Directors put extensive policies and procedures in place to fully account for funds receipt, particularly cash, and outgoing expenditures to ensure funds transactions are closely monitored. These include (but not limited to) cash counts at each turnover point, BOD online viewing of the Association bank account, and conducting business outside VASRA through the Post Office Box only. In addition, at the close of each fiscal year end June, VASRA finances are audited by an outside accountant (who is sometimes a CPA) to verify that funds have been used only as approved by the VASRA Board of Directors. For further information on VASRA accounting practices, please contact: VASRA Past President, John D. White at email@example.com or VASRA Treasurer, Mark R. Peterson firstname.lastname@example.org.
Updated: October 29, 2014