Your Check Is in the Mail

BY JOSEPH T. WELLS

Sabrina Walker of Minneapolis must have been one happy camper—at least for a while. It seems that in March the state of Minnesota inadvertently cut a $2.5 million check to her instead of the Hennepin County Medical Center, the intended recipient.

Walker’s only other dealing with the state’s accounting system was an $84 check she received as a court witness. But as luck would have it, her vendor number was one digit removed from the hospital’s nine-digit number, and a clerical error in the state’s accounting system sent her the millions.

Rather than return the money, Walker allegedly bought a $500,000 certificate of deposit, and later, a Treasury bond of the same amount. She went on to buy four automobiles and spent another $5,500 on jewelry, $3,817 on electronic equipment and $2,069 on limousine services. Prosecutors charged Walker with theft by swindle and concealing the proceeds of a crime.

—Joseph T. Wells, CPA, CFE

SPONSORED REPORT

Tax reform complicates year-end tax planning

Get your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.