Advisory committee raises concern that town accountant position is not bonded; asks select board/town administration for review

Members of the Templeton Advisory Committee said they were surprised the town accountant position appeared not to be bonded and asked the Select Board and town administrator to review bonding coverage for positions that handle town funds.

Committee members discussed Massachusetts guidance on municipal fidelity bonds, the Department of Revenue and case examples from other towns. Members said generally that positions handling receipts or disbursements — such as the treasurer/collector and, where applicable, a town accountant who issues payments — are commonly bonded and that bonding reduces town exposure for embezzlement or similar losses.

Mister Caplis said the Department of Revenue guidance lists bond recommendations tied to duties and dollar exposures and suggested advisory recommend the Select Board and chief financial officer verify which positions are bonded and, where appropriate, obtain fidelity coverage. Committee members agreed the Select Board and town administrator (and the chief financial officer) should produce a clear list of who is bonded, the bond amounts, and the exposure those bonds are intended to cover.

The committee did not vote a formal binding change of policy; members requested that the Select Board be asked to put the issue on a future agenda and that advisory or a designated member include bonding questions in the Committee’s comparison-town review of finance structures. The committee cited a recent local personnel event and said bonding could limit the town’s financial exposure in similar cases, but they also said exact coverage and applicability should be determined by the Select Board and town counsel.