An investigation - possibly involving the police - has been opened after £1,800 of money deposited into the Union safe went missing over the summer. Following the friction at the start of the 06/07 academic year, Chinese society were encouraged to put money from their events into the Union's accounts, rather than operating another account for overseas events. As a result, cash from Hong Kong was converted into sterling before apparently being placed into the Union safe. When the time came to pay the money into the bank, it had apparently disappeared.
The investigation has been launched as no-one has a clue what happened - due to sloppy record keeping in the Union there is no paper record of the money being paid in or taken out. Indeed, it appears to be possible to remove money from the safe just by asking for it, with little in the way of record keeping or ID checks. Although it might be expected that signing money in and out would be standard, particularly for a safe which holds values into 5 figures on a regular basis, this procedure is apparently not in place for the finance department's safe despite requests for it to be implemented. Other safes on the premises have more rigorous record-keeping procedures.
Chinese society are not out of pocket, as the money has since either re-appeared, or been entered into the finance system regardless of the presence of actual cash.
The current Deputy President (Finance & Services) and ICU President refused to comment due to the ongoing investigation, however have previously indicated it was "not on [their] watch".
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