Wallace was made redundant by email in June and has been battling her former employer for what she is owed.
BBO failed to honour a confidential settlement agreement with Wallace in a timely manner and was slapped with a $2000 penalty by the Employment Relations Authority last month.
BBO was also ordered to pay costs totalling $1071.56.
Wallace has not received the money yet, but BBO has advised it will make the payment on November 21.
''The whole experience has left me pretty devastated, really,'' Wallace said yesterday.
''It is not something I've experienced in my life before and I hope it is not something I have to again.
''It was a great opportunity when I was employed by BBO and I loved the work.
''It was a shock to receive the email to say that the position had been made redundant.''
BBO had earlier that month accepted the resignation of general manager Markham Brown, citing a need to strengthen its financial position.
While the board refused to comment publicly on Brown's performance, the implication was he had failed to rein in the expenses.
However, Wallace believes the board is responsible for the current financial plight.
''Although I had no authority on the expenditure - I was just processing it - I did advise the board ... on many occasions about the impending financial shortfall.
''It was sort of like watching a train wreck. In my opinion - and it is only my opinion - I gave them where I believed waste occurred. The development structure that we had just wasn't sustainable.
"It drained the organisation of funds and we did not have any income being generated from it.
''The board that was there have to take some responsibility for the decisions they made. I guess it is up to the clubs now to ask the hard questions.''
Wallace believes the board owes it to the basketball community to make its accounts public.
BBO is not obligated under its constitution to present the accounts until its annual meeting, which is scheduled for November 19 at the Edgar Centre.
Chairman Ricky Carr has declined requests from the Otago Daily Times to provide a copy of the audited accounts for the financial year ending December 2013.
However, the newspaper understands the deficit will be close to the $50,000 suggested by former BBO deputy chairman Simon Eddy in August.
Sources who are close to the issue have indicated that the situation is recoverable, but the past five months have been damaging for the organisation.
The only good news has been Oceana Gold's decision to remain the Otago Nuggets' major naming sponsor.
Before the Nuggets can take the court next year, BBO will have to come up with $5000 by Friday.
National Basketball League chairman Sam Rossiter-Stead confirmed teams are required to make a $5000 down payment by November 7.
They must also prove they are financially viable and sign the franchise agreement.
Rossiter-Stead yesterday said he had received assurances from BBO those terms would be met.
Carr could not be reached by phone and did not respond to an email request for an interview.
