HB3798 was passed in the last legislative session which made some changes relating to expenditures made by emergency service districts under Health & Safety Code 775.073. Since this statute now requires a bond for a district employee that is allowed to sign an instrument to disburse district funds, this employee must have a separate specific bond. Public Employee Blanket bonds exclude coverage for anyone required by law to be bonded, therefore, the district treasurer must have a separate specific bond as well as a district employee as mentioned above.
If you have any questions regarding these bond requirements, please e-mail us @ vfisoftexas@vfistx.com or call (800) 252-9435.
Effective 9/1/13 Health & Safety Code 775.073 now reads in part:
(b) The board by resolution may allow a district employee who has executed a bond in an amount equal to the amount required for the district treasurer to sign an instrument to disburse district funds. An expenditure of more than $2,000 may not be paid unless the expenditure is presented to the board and the board approves the expenditure.
To read the entire HB3798 text, please CLICK HERE.
If you have any questions regarding these bond requirements, please e-mail us @ vfisoftexas@vfistx.com or call (800) 252-9435.
Effective 9/1/13 Health & Safety Code 775.073 now reads in part:
(b) The board by resolution may allow a district employee who has executed a bond in an amount equal to the amount required for the district treasurer to sign an instrument to disburse district funds. An expenditure of more than $2,000 may not be paid unless the expenditure is presented to the board and the board approves the expenditure.
To read the entire HB3798 text, please CLICK HERE.
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