Finding for Recovery: $267,000 of Stolen Funds in the City of Troy

Tuesday, August 31, 2021


For Immediate Release:                                                      

August 31, 2021                                                                    


Finding for Recovery: $267,000 of Stolen Funds in the City of Troy


Columbus – Auditor of State Keith Faber’s Office issued a hefty finding for recovery totaling $267,000 for stolen funds by an office manager. The discovery was cited in the 2019-2020 financial audit of the City of Troy in Miami County.


“This is a reminder that no matter the situation, there is simply no excuse to steal from the public,” said Auditor Faber. “Checks and balances are essential to a healthy handling of government funds and when a public official gets caught with their hand in the till justice must be served.”


On October 26, 2020, Judge Stacy Wall of the Miami County Common Pleas Court ordered restitution of $267,000 against Cheryl Terry, former City Recreation Department Officer Manager, after she was depositing the City’s Hobart Arena cash in her personal bank accounts beginning in early 2017 and continuing into early 2020.


Ms. Terry pleaded guilty to theft in office and agreed to pay the restitution.


A finding for recovery was issued in the amount of $267,000 against Cheryl Terry and her bonding company, Gallagher Bassett, jointly and severally, and in favor of the City’s Hobart Arena fund.


A full copy of this report is available online.


The Auditor of State’s office, one of five independently elected statewide offices in Ohio is responsible for auditing more than 6,000 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.