The Indiana State Board of Accounts has released findings of an audit of Tippecanoe Valley School Corporation noting more than $307,000 in missing funds. The state is now requesting reimbursement of those funds from the estate of former corporation treasurer Sherri Adamson.
Adamson, 50, of Rochester, served as the TVSC treasurer from Jan. 1, 2010, until January of this year when she was questioned by investigators over improper use of corporation funds. On Jan. 7, Adamson was found dead of a self-inflicted gunshot wound in a wooded area near her home.
In the State Board of Accounts findings, Adamson is accused of issuing 34 checks, 22 of which did not have a corresponding voucher or other form of documentation. Those checks totaled $34,916.63.
The audit also found undocumented credit card purchases totaling $244,140. An additional $28,149.55 is being sought for the cost of the audit.
All of the transactions occurred or cleared between July 1, 2012, and Jan. 9, 2013.
The State Board of Accounts also found in their audit that internal controls of financial activities related to the processing and payment of credit cards “were insufficient.”
Boggs letter also noted, “The individuals who manage and govern the TVSC are deeply disappointed in the actions of the former corporation treasurer … it is important to note that a significant portion of the misuse of public funds occurred during the time of transition from the retirement of the previous deputy treasurer to the hiring of a new deputy treasurer when the former corporation treasurer assumed the responsibilities of both positions.”
The State Board of Accounts report was forwarded to the Office of the Indiana Attorney General and Kosciusko County Prosecutor Dan Hampton.