Judson president says alleged theft will not cost school

Judson College officials reassured Alabama Baptists that the school will not lose money as a result of alleged misappropriations by a former employee totaling approximately $250,000.
   
“We are saddened by this event and grieve for the family involved,” said Judson President David Potts in a letter to Alabama Baptists. “The college maintains insurance to cover any losses and a trustee has stepped forward to pay the insurance deductible so that no money is lost to the college.”
   
The school has also taken steps to prevent any future problems of this nature. “Both policies and practices were modified immediately when we learned of the misappropriations,” Potts said in a press release.
   
The letter and release were issued in response to the Dec. 12 indictment of Renee B. Kilpatrick, former Judson vice president of finance, by state Attorney General Troy King’s office.
   
A statement issued by King’s office said Kilpatrick was arrested Dec. 5 and released on bond. 
   
She faces three charges: first-degree theft of checks or currency, first-degree theft of a money order or certified check and illegal possession or fraudulent use of a credit card belonging to Judson College. 
   
As of press time, Kilpatrick had refused arraignment and a trial date had not been set.
   
Potts said in the release that he received a report in March that questionable activity was occurring in the school’s accounts at a local bank. An immediate internal review was launched, and the executive committee of the school’s board of trustees authorized an independent review by an independent auditing firm, Branum and Co. 
   
The internal review, confirmed by the auditor, found that multiple questionable transactions had occurred between Aug. 6, 1999, and March 13, 2005. 
   
The auditor also informed trustees that the alleged misappropriations would not diminish the school’s ability to deliver its educational program.
   
Judson turned over all materials to the attorney general’s office and requested that it review the matter.
   
“We are most grateful for the review and action by the ‘white collar’ crime unit of the attorney general’s office,” Potts said in the release. 
   
“We want to assure Alabama Baptists that this incident, the first in our history, will not be repeated,” he said in the letter. 
   
“We take very seriously our responsibility to be accountable to our alumnae, boards, students, friends and to every member church of the Alabama Baptist Convention for the wise use of the dollars given to us for Christian higher education.” (TAB)