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Goldsboro council adopts blanket fidelity bond policy to cover employees handling public funds
Summary
The Goldsboro City Council voted to adopt a resolution creating a citywide fidelity bond policy that will provide blanket coverage for employees who handle public funds, rather than requiring individual bonds for each employee.
The Goldsboro City Council on an oral vote adopted a resolution creating a Fidelity Bond Policy that affirms the city’s use of a blanket fidelity bond to cover staff who handle public funds.
City finance staff presented the policy as a formal statement of how the city already manages financial risk. “We’re just trying to get things put in writing and get the council to agree with it, and so therefore, it is there for future councils to operate off of,” a finance staff member said during the discussion.
The presenter said the city’s blanket insurance policy covers anyone who handles public funds, assets or inventory and that requiring individual bonds for every employee who might touch money “would be extremely cost prohibitive.” The council chair described the policy as noncontroversial and said it was intended to improve internal accountability measures.
A council member moved to adopt the resolution and another member seconded the motion. The council approved the resolution by voice vote; no roll-call tally was read into the record. The presiding official said the council would sign the resolution the following morning.
The action formalizes an internal policy confirming the city’s long-standing practice of using a blanket bond rather than requiring separate fidelity bonds for individual employees. The resolution itself and any implementing administrative procedures were not included in the discussion excerpt and will be retained in the city’s official records.
