Annapolis: Theft Exceeding $150,000 Occurs at Finance Department

Theft Exceeding $150,000 Occurs at Finance Department

Police investigating incident; new internal money-handling procedures
installed

Annapolis, Md. (06-14-10) -- Mayor Joshua J. Cohen announces that a
theft took place last week in the Finance Department that resulted in
the loss of $149,843.21 in checks and $3,982.59 in cash.

A deposit bag with the checks and cash was removed from the Finance
Department’s vault between 2:30 p.m. Monday, June 7 and the next
morning, Tuesday, June 8. The theft was discovered upon opening the
vault for the courier to deliver the deposit to the bank.

The Police Department was contacted immediately, and an investigation
is underway.

The Finance Department has moved vigorously to install new internal
controls to prevent such an occurrence. Finance staff are making contact
with check writers to ask for a stop payment and reissue to recover as
much of the check amount as possible. Several large checks are already
going through that process. The City stamped all checks as “deposit
only” so they cannot be cashed.

The Finance Department handles money for scores of transactions for
City services, including utility payments and parking fees. Those who
sent in checks and cash that were received by the Finance Department on
Monday, June 7, have been credited for the payments.

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WHO: Mayor Joshua J. Cohen, Police Chief Michael A. Pristoop and Finance Director Tim Elliott

WHAT: Mayor Cohen, Chief Pristoop and Mr. Elliott will provide an update on the recent theft of $149,843.21 in checks and $3,982.59 in cash from the Finance Department.

WHERE: City Council Chambers, City Hall
160 Duke of Gloucester St.

WHEN: Tuesday, June 15
1 p.m.

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