My kids are out of school by 10 years, but their High School still is cash or check only for everything according to their website. Costs them too much money to take plastic.
Like I said earlier, a big business will likely have to pay for the costs of handling money. I've been at bank branches when an employee was on a cash run to either deposit or withdraw. There are always risks that include employee theft, counting mistakes, robberies, insurance costs, etc.
Our school is mostly electronic payment. In order to pay cash or cheque you have to go to the school and fill out a form and hand theme exact change. The hot lunch fundraiser take paypal, upon which you the parent pay the 3% processing fee. The former treasurer was caught stealing a total of $40000. from the funds raised to replace they playground equipment. She was caught and prosecuted, and forced to pay back the money but they want forms of payment where the treasurer doesn't handle deposits.
We have a case here where a women embezzled over $138,000 from a school parent organization and a Little League. Case is just now being prosecuted, but a portion of the money was electronically transferred. So oversight is more important than method of funds being collected. But of course, no system is perfect.
It's not the only measures that were put in place. She stole the bulk of the funds by not depositing the cash, just the cheques. Having been a treasurer of another group, how she was able to not produce a monthly report and banks statement reconciliation for more than 6 months without raising any flags is beyond my understanding. All the meeting minutes are posted on the school website and a few months went by with no report submitted Now they have measures in place where both the treasurer and President have access to bank statements and a treasurer's report must be submitted either in person or via email at the council meeting or BEFORE hand.
