How secure is your safety net? Could one of your staffers sneak under the radar and loot your treasury for more than $300,000? That’s what happened at Georgia Tech, where an employee who had access to school purchasing cards made off with $316,874 in personal purchases.

For five years, ending in April 2007, the staffer used Georgia Tech p-cards to buy more than 3,800 personal items. To cover her tracks, she made up phony receipts to give her supervisor, and made fictitious entries in the accounting records.

As always is the case, all good things must come to an end, and she was unveiled last year.

In May, she pleaded guilty to 22 counts of mail fraud; in August, she was sentenced to 32 months in federal prison and ordered to make full restitution to the school. In addition, she must perform 250 hours of community service.

She was scolded by the judge for abusing her position for personal gain, and diverting money that should have helped pay for educational expenses — “instead of frivolous personal items like a popcorn machine.”

C’mon, a popcorn machine?

It must be that some people prefer fresh-popped over microwaved popcorn — and it’s easier to get your hands on a ”hot” popcorn machine.

Tags: accounting, procurement, receipts