Lobo cheer fund unmanaged: Incomplete records kept investigators from fully examining fund

By Andy Sevilla

An internal investigation and outside audit of the Lehman High School Cheer Activity Fund found no evidence of theft or misappropriation. However, the report, compiled by Gibson Consulting Group, said it found that incomplete recordkeeping kept examiners from determining if all revenues were received and deposited or that all expenditures were appropriate and authorized.

According to the report by the Gibson Consulting Group, the lack of procedural compliance and financial reporting prevented the cheerleading activity fund managers from administering the fund effectively; and as a result, the fund accrued past due balances of more than $45,000.