ASFA Finance Coordinator Resigns, After Allegedly Taking Petty Cash for Nutcracker Show
Finance Policies to Be Reviewed, After $450 Is Mishandled
The Arts and Science Federation of Associations announced a new finance coordinator will be taking over temporarily, after $450 in petty cash was retracted from the federation’s office.
The federation said they were made aware of the situation in late November, after Finance Coordinator Caleb Owusu-Acheaw told executives that he’d taken money from the office “due to personal circumstances.”
Owusu-Acheaw officially resigned on Nov. 29, the same night ASFA’s council met in a closed session to impeach him.
Two sources present at the closed session claimed Owusu-Acheaw decided to take petty cash because he wanted to see The Nutcracker, which runs at Place des Arts. One of the two sources also mentioned that Owusu-Acheaw told ASFA he had money in his savings account, but chose not to use it, admitting he had poor spending habits.
In a statement to students, the federation wrote that, “Owusu-Acheaw has demonstrated a desire for accountability and ownership of his actions.” He will be replaced on an interim basis by Gigi Cordeiro, an ASFA councillor and president of the Sociology and Anthropology Student Union.
“ASFA is committed to upholding the trust that students have placed within us, and as such we are working to ensure that situations like this do not arise in the future,” the statement continued. “We regret that this situation has arisen, but would like to assure our members through our transparency, that necessary actions have been taken swiftly and without hesitation.”
Advocacy and Executive Coordinator Marguerite Rolland told The Link the $450 has yet to be returned. Owusu-Acheaw, who declined to comment, has been mandated to return the funds by Jan. 1.
Rolland said an audit of ASFA’s finance policies will be undertaken to ensure the federation can find ways to better manage their petty cash.
“In light of this situation, but also for good practice, council mandated ASFA contract an external third-party–such as our lawyers, auditors, or accountants–to review our financial policy and provide recommendations,” Rolland said.
Rolland also said ASFA has implemented a temporary policy mandating that petty cash can now only be used if executives or their office manager sign off first.