Per KRS 160.560 and 702 KAR 3:080, it is the duty of each local board of education to bond its board treasurer and any other school employee who is responsible for board of education funds. The official bond shall be executed for the faithful performance of the duties of the office which is guaranteed by a surety company authorized to do business in the state. The amount of the bond is determined by the Board in accordance with the requirement for the penal sum of the bonds as summarized in the KAR listed above. The Bullitt County Board of Education bonds Becky Sexton, Assistant Superintendent of Support Services, Karen Weaver, Account Clerk, and Lisa Lewis, Director of Finance and Treasurer, each in the amount of $1,100,000. Provided are copies of the Performance Bond forms for approval. | |
Stock Yards Bank currently pays interest at the rate of .30% Annual Percentage Yield with $10,000,000 excluded from the interest calculation. The district has received excellent service from Stock Yards Bank. Funds are collateralized at 103% of the balance. Requested is renewal of banking services and approval of the Bond of Depository. | |