File: DH - Bonded Employees and Officers

NOTE: While Colorado school districts are not required by law to adopt a policy on this subject, some content in this sample reflects legal requirements school districts must follow. This sample contains the content/language that CASB believes best meets the intent of the law. However, the district should consult with its own legal counsel to determine appropriate language that meets local circumstances and needs.

All district employees who are responsible for moneys controlled by the Board or who may have more than $50 from such funds in their custody shall be bonded [NOTE: The Board should choose one of the following options to conclude this sentence.]

[Option 1: in an amount at least sufficient to cover the amount of district money which is likely to be in the employee's custody at any one time.]

[or]

[Option 2: in the amount of $_____________.] [NOTE: The Board may set a specific amount for the bond or bonds.]

The secretary and treasurer of the Board and any custodian of moneys authorized and appointed by the Board shall be individually bonded. This bond shall be in an amount not less than $5,000.

In lieu of a bond, the district may maintain equivalent insurance coverage for such district employees, board officers and board-appointed custodians.

The cost of bonding or insurance coverage shall be borne by the school district.

(Adoption date)

LEGAL REFS.: C.R.S. 22-32-104 (4)(b), (c), (d) (surety bond or insurance coverage required)

C.R.S. 22-32-109 (1)(h) (bond or insurance requirement)

C.R.S. 22-32-121 (3) (bond required if authorized to affix facsimile signature of treasurer)

[Revised August 2016]