FIDELITY BONDS Policy Code: 8530
The board agrees to pay the premium for a true accounting and faithful performance bond with sufficient sureties to cover all funds in the school finance officer’s custody except state funds placed to the credit of the school district by the State Treasurer. The amount of the bond shall be $250,000.
The board also agrees to pay the premium for a true accounting blanket bond with sufficient sureties which will cover all school treasurers and other employees who have custody of public school money in the normal course of their employment or agency. The amount of the bond shall be $10,000.
Legal References: G.S. 115C-442
Revised: December 10, 2007