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06340 July 6, 2006
PC(USA) treasury official charged with embezzlement
Judy Golliher fired; more than $100,000 missing
by Jerry L. Van Marter and Evan Silverstein
LOUISVILLE - Judy A. Golliher, the second-ranking financial officer in the Presbyterian Church (U.S.A.), was fired last week after she admitted to embezzlement. More than $100,000 in church funds is missing.
Church officials said in a statement Thursday (July 6) that the case is being turned over to prosecutors. They said insurance and restitution should cover any losses.
Church accounting and finance staff discovered the theft on June 27 during normal preparation of bank reconciliations when "several unexplained items were found," according to the statement released by the General Assembly Council (GAC). When confronted, Golliher admitted to embezzlement and her employment was terminated.
A full investigation has been launched to ensure the security of PC(USA) funds. Fraud prosecutors in the Kentucky Commonwealth Attorney's office have been notified and church staff will work closely with prosecutors during the investigation, the statement said.
"Our own internal processes detected the misconduct and we took immediate action," said Linda Valentine, who this week started her duties as the GAC's new executive director. "In addition to continuing our investigation, we will take steps with external auditors to review and strengthen our internal controls to ensure that funds entrusted with us are properly used."
Preliminary investigations have determined an embezzlement of $102,000 from the church's general operating fund. In-depth analysis over the coming weeks may cause this figure to rise.
The misappropriated funds were taken from the PC(USA)'s general operating fund, which includes contributions from church members and interest from church investments. Insurance coverage is expected to replace all funds lost due to this theft, so that no programs are affected by the loss.
"Due to our insurance and our intent to seek restitution, we expect there to be no impact on the mission and ministry programs of the Presbyterian Church (U.S.A.) as a result of the theft," Valentine said.
Golliher, who has more than 20 years' experience in banking and real estate, indicated that she would cooperate with the GAC's investigation and will repay the amount she acknowledged taking.
"While we appreciate the offer of cooperation, we will vigorously pursue our internal investigation and our work with the Commonwealth Attorney's Office," the PC(USA)'s General Counsel Eric Graninger said. "We must take every means available to make a full recovery of the church's funds."
Findings from the investigation will be reviewed by external auditors, the General Assembly Council's audit committee, and the GAC itself, the statement said.
"We have been entrusted with stewardship responsibilities before God and with Presbyterians across the church," Valentine said. "Integrity is paramount for our work. As the new executive director for the General Assembly Council, I consider this a matter of the highest importance."
Golliher began working at the PC(USA) in October 2004 as interim controller. A year later she was named associate director for Finance and Accounting. In February, she also became treasurer for the PC(USA) church corporation.
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