The former business manager and a former principal of a Toronto school that caters to children with special needs are among five women charged with defrauding the facility of $700,000.

Toronto police's fraud department said on Monday that four former employees of the Bloorview School Authority and a fifth person were charged following an internal audit conducted by the school.

It is alleged that a forensic audit firm hired by the Bloorview School Authority revealed that about $700,000 was misappropriated from the school between July 2006 and September 2008.

The case was reported to the Toronto Police Fraud Squad, who on Monday announced the charges.

The Bloorview School Authority is an educational facility that provides programs for children with special needs.

The school's former business and finance manager, principal, administrative assistant and secretary face charges relating to fraud, the falsification of accounting books and laundering the proceeds of a crime.

"The allegations are they were using the money for personal use," said Det. Adkin Holder.

The alleged fraud was uncovered in 2007 when Saryl Jacobson came on as principal and noticed the books seemed wrong.

"This came as a surprise to many people and they're hurt by it. This is an institution that has had an excellent reputation," Jacobson said.

The suspects are accused of several fraud-related charges:

Paula Gerolimon, 49, the school's former business manager, is charged with fraud over $5,000, falsification of books and laundering the proceeds of a crime.

Linda LaRocque, 63, the school's former principal, has been charged with fraud over $5,000 and laundering the proceeds of a crime.

Bo-Reum Han, 38, the school's former administrative assistant, has been charged with fraud over $5,000.

Rose Hudson, 37, the school's former secretary, has been charged with fraud over $5,000.

Sandra Charles, 36, has been charged with fraud over $5,000.

The accused are scheduled to appear in a College Park courtroom on Feb. 15.

With a report from CTV Toronto's Tamara Cherry