From The AP:
The audit of the Chicago-based Alpha Kappa Alpha sorority, which was completed in December and provided to The Associated Press, also found two former top officials continued to use sorority credit cards after their service ended, failing to appropriately document tens of thousands of dollars in charges. A pending 2009 lawsuit against the organization and officials including its former president, Illinois resident Barbara McKinzie, contains similar allegations.
The audit by the Illinois-based accounting firm Ragland & Associates covers the year 2010 and is an annual audit paid for by the society. It finds that in that year McKinzie and two other top officials secretly created a second set of financial books to get around the sorority’s accounting policies.
“The intent was to divert and misappropriate AKA funds,”according to the audit, which found nearly $1.7 million in payments made without authorization.
Approximately $282,000 in credit card charges on the second set of books appear to be fraudulent, including personal charges the sorority wasn’t reimbursed for, the audit found.
From Page 19 of audit:
AKA’s tax returns for years 2007 through 2009 are being audited by the Internal Revenue Service. The audit is in process and is expected to be concluded sometime in January 2012. The areas in which they are auditing are in the post Boule expenses, unrelated business income, regional directors office expenses (non-accountable plan expenses), set-aside income that has been authorized by the board, and travel and entertainment not supported with documents, including the American Express credit card expenses.”
(Translation: Somebody’s going to jail)
We now have time for a full day of apologies and brass ring kissing. Line forms over there. Please have your gifts cards and statements of regret ready as Mo’Kelly passes by.
Mo’Kelly may not be doing much investigative work right now…but his spies are!
An apology refresher HERE.
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