HomeMy WebLinkAbout101-Master Public Employee Bond.pdf
SARATOGA CITY COUNCIL
MEETING DATE: January 7, 2009 AGENDA ITEM:
DEPARTMENT: Recreation/Risk Management CITY MANAGER: Dave Anderson
PREPARED BY: Michael Taylor DIRECTOR: Michael Taylor
SUBJECT: Adopt a Resolution Approving the Use of a Master Public Employee Bond to Provide
Required Coverage for the City.
RECOMMENDED ACTION:
Staff recommends that City Council adopt a Resolution approving the use of a master public
employee bond to provide required coverage for the City.
REPORT SUMMARY:
The Municipal Code of the City of Saratoga, article 2-20 section 035 designates the City
Manager as the City Treasurer. Government Code 36518 requires that City Clerks and City
Treasurers be bonded.
The Association of Bay Area Government Pooled Liability Assurance Network (ABAG PLAN),
the City’s self insurance and risk management program recommends that each agency adopt a
resolution authorizing the use of a master public employee bond to provide the requisite fidelity
and errors and omissions coverage for the City Clerk and City Treasurer. Such protection is
currently provided at a level of $1,000,000 with a $5,000 deductible.
FISCAL IMPACTS:
None.
CONSEQUENCES OF NOT FOLLOWING RECOMMENDED ACTION:
None
ALTERNATIVE ACTION:
None
FOLLOW UP ACTION:
Staff will implement Council direction.
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ADVERTISING, NOTICING AND PUBLIC CONTACT:
Posting of the agenda was made according to the Brown Act.
ATTACHMENTS:
Attachment A - Resolution