The PTA president of E. Rivers Elementary told a large group of parents Tuesday night that one parent stole more than $55,000 that was supposed to go into the PTA's account.

A source told Channel 2 Action News that that figure could top $100,000.

Parents packed into Covenant Presbyterian Church to find out how the money disappeared.

PTA Spokeswoman Molly Epstein met with Channel 2's Craig Lucie after the meeting after organizers kicked Lucie and his photographer out of the meeting.

"One of the most disturbing things about this case is the money was taken by a trusted individual. She had access to the money before it was deposited into the account," Epstein explained to Lucie.

Lucie went to that parent's Peachtree hills home, but no one answered the door when he knocked.

PTA officials said they noticed the tens of thousands of dollars missing after an audit at the beginning of March.

That's when the PTA president went to police with a suspect's name.

According to the police report, the PTA president told detectives that checks in excess of $20,000 were deposited at Signature Bank. The report also said that the parent worked at Signature Bank and is a part owner of the bank.

Several of the checks were also donated by Peachtree Road United Methodist church.

"Just total shock," one E. Rivers parent told Lucie

"People that took money away should be punished," said Majid El Maliki, who has a 6-year-old that goes to E. Rivers.

The PTA said the stolen money helped offset school budget cuts and supports a number of programs.

"It's for curriculum development, for faculty training, materials and classroom aides," Epstein said.

Channel 2 Action News is not naming the suspect at this time because Atlanta police have not charged her.

The PTA said the white collar crimes unit is investigating and is confident an arrest will be made soon. They said the investigation is well under way.