TITLE
Title
RECEIVE AND APPROVE ANNUAL BOND REPORT AS REQUIRED BY N.C.G.S.162-9 AND N.C.G.S. 159-29 (AS REVISED)
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SPONSOR
Sponsor
Yvonne Moebs, Guilford County Director of Risk Management
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BACKGROUND
Background
Each year the board reviews and approves annual bond rates for the following statutorily required positions: Sheriff, Tax Collector, Finance Director and Register of Deeds. Effective January 1, 2023 the bond requirements for Finance Officer have been modified by Session Law 2022-53. The session law establishes that the minimum finance officer fidelity bond should be based on the annually budgeted funds amounts for the fiscal year covered by the bond. See attached Bond Report and Bond documents.
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REQUESTED ACTION
Requested Action
In accordance with North Carolina Statutes, approve and fix bond rates as follows:
For County Sheriff, fix amount of bond at $25,000 and accept bond issued by Travelers Insurance in that amount with the original bond to be deposited with the Clerk of Superior Court;
For Tax Collector, fix amount of bond at $100,000 and accept bond issued by Travelers Insurance in that amount;
For Register of Deeds, receive and approve annual bond report reflecting the $50,000 bond issued by Travelers Insurance;
For Finance Director, fix amount of bond for Interim Finance Director and approve through the end of December at $100,000 and fix amount and approve bond beginning January 1, 2023 for $1,000,000 in accordance with SL 2022-53.
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