Professor Elam

Thursday August 30 2012

The Texas Highway Patrol Museum was supposed to help the families of officer slain in the line of duty. But as so often happens, eveyrone's money is no one's money in the public sector. The Texas Atty General sued the museum and it is now being liquidated. 

Here is yet another example of the importance of internal conrols, internal auditing, and the value of an indepdent external audit. Far too often individuals use funds for their own purposes rather than the original goal of the enterprise. If you are ever appointed to a Board of a non profit, plan to ask the hard questions.