Unfortunately, there are a few things that are easily not anticipated at the beginning of a season. I was a league secretary/treasurer for 15+ years, and there always is some kind of problem with money. A couple of years ago in our league, there were 3 deaths (all between February and May), and it was customary before I took over the job of secretary to send flower arrangements to the families/funeral homes. Nowadays, a decent looking arrangement can cost anywhere from $65.00 to $115.00. Maybe all leagues don't do this, but this is just an example of unexpected expenses.
I certainly can relate to the scenario of a bowler taking the cash out of the envelope and then bouncing a check. This has happened more than once in our league over the years. Usually, the guy will disappear after he's done this. You can do what you can to track him down, and then you can send him his registered letter, notifying him that he'll be suspended, but this usually ends up with no response from the offender. Even though it's a small fee, still the cost of sending the registered mail is another unexpected expense. And as was mentioned, the cost of the bounced check is money that can't be planned for, ahead of time. Unfortunately, all leagues can't command that only cash be accepted--there are quite a few people that don't carry much cash on them--only checks or credit/debit cards--and the bigger the league, the more chance of this situation being the case.
I don't know how it is nowadays, but the President was never a paid position when I ran a league. Maybe it's unnecessary, but a nominal fee for President might inspire a volunteer for the job to be more diligent and hard-nosed about the monthly audits.
It's not too unusual to hear that a secretary/officer would hear about a bounced check from a third party on the way in to the bowling center. If a bowling center gets a new day manager, s/he may not have it on the top of his/her agenda to telephone the league officers about a bounced check, or it may not be in the strict policy of the bowling center to notify the officers in addition to the team responsible for the money. Or the check may have been put through the bank more than once, and not officially bounced until the following league date, which wouldn't leave any time for the officers to be notified. There are always people who arrive at the bowling center ahead of time, and somehow gossip just seems to spread from within the bowling alley, to these early arrivers. Then they seem to take pleasure in passing the gossip as 'hot breaking news' to someone who's an officer of the league.
I understand that a league's officers and board of directors are responsible for the league's finances. I don't know if I'd quite go as far as suspending all the officers' cards for not doing their job. If the officers are doing a good job for the league overall, it might be a little extreme to remove all these people from their positions, and subsequently replace them with people who don't know all the ins-and-outs. When I did the job of secretary/treasurer, I usually just took the hit at the end of the year from my salary in some of the minor, isolated cases. I always felt that the job of secretary/treasurer was too generously paid a position, especially when the President received nothing. But, usually, the feeling amongst the league as a whole was to take money out of the 50-50 to cover stuff like bounced check fees, mailing costs, flower arrangements, additional rolls of 50-50 tickets, etc.
Anyway, right or wrong, these are just my extended thoughts on the matter.