For Immediate Release
City of Hamilton successful in insurance claim to replace mishandled funds
Hamilton, Ontario – May 9, 2016 – The City of Hamilton has been successful in a claim to its insurer for approximately $1 million relating to a loss arising from the mishandling of funds by a former employee in 2013.
The City conducted both an internal investigation and retained a forensic accountant to conduct an evaluation. Both the internal investigation and the forensic accountant’s work validated the mishandling and were used to support the successful claim to the insurer.
Additionally, the City’s internal investigation and the forensic accountant’s evaluation identified areas for improvement to City of Hamilton cash handling processes and those changes in procedures were implemented following the audits. We continue to work with the Hamilton Police Service on this matter.