(3/13) Following last month’s meeting in which the elected auditors questioned if Liberty Supervisors opening mail would negate a treasurer’s surety bond, the township’s bond company briefed the Township Supervisors on the terms of the bond.
The issue needing to be clarified was whether supervisors handling township financial mail could potential negate the treasurer’s surety bond.
A treasurer surety bond is a type of public official surety bond required of the person holding a treasurer office. Treasurer surety bonds help guarantee the public that the treasurer will honestly and faithfully perform their duties of their elected or appointed office. See also public official surety bonds.
"The idea that the treasurer’s surety bond is null and void if a supervisor should open a letter with a check in it is not accurate," said Andrew DiProspero, Senior Vice President at H.A. Thomson, the issuers of the surety bond.
DiProspero said the confusion was a result of misinformation relayed to the auditors by someone who did not work with treasure surety bonds.
Supervisor Chair Walter "Mickey" Barlow also read an email from the bonding company employee, from whom the information was given to the auditors, stating it had been "a misunderstanding of what I was trying to convey."
All financial aspects of the town are handled by the township treasurer and the assistant treasurer only reconciles all statements, according to Barlow.
Employees of the Township are covered under Liberty’s current standard liability insurance policy that includes theft coverage and computer fraud up to $10,000, Barlow said.
This coverage currently includes Barlow and Vice Chair Bobby Keilhotlz, but does not cover regular supervisors.
Unless directed otherwise, the township will continue its operation of finances per the township code, including insuring that, "two supervisors and the treasurer have to sign all checks," Barlow said.
The supervisors also reached a consensus that the Township had proper coverage and that no additional or changes to the insurance coverage were necessary.
Putting the matter to rest, Barlow noted the importance of doing homework before presenting information for public meetings.
The Liberty Township Board of Supervisors will next meet April 2.
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