HomeMy WebLinkAboutTR-9A-83 W1SOaA y,NOWLE[IGE,VyO t v.s-3
CORPORATION OF THE TOWN OF NEWCASTLE
4 40 TEMPERANCE STREET
BOWMANVILLE, ONTARIO
^` LiC3A6 TELEPHONE 623-3379
REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING HELD
MARCH 7, 1983
TR-83-9 (A)
SUBJECT: INSURANCE COVERAGE
RECOMMENDATION:
It is respectfully recommended:
"That Committee consider whether Fidelity Bonding be provided
for the treasurers of all local boards at an annual premium
of $557.00."
BACKGROUND AND COMMENT:
Treasury department staff have received requests from several local board
treasurers regarding the possibility of them being bonded. On the basis
of those requests, staff requested a quotation from the Town's insurers for
such coverage. (letter attached) .
The Treasurers of the local boards feel exposed to risk in that they are
handling cash for the local boards and they are personally responsible for
any losses which may occur through theft or loss through fire, etc.
Respectfully submitted,
Kathryn A. Campbell , C.A. , B.Comm. ,
Treasurer.
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Att: (1) ✓�✓
Y83-IN-13
17.02.83 � �)
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FRANK COWAN COMPANY LIMITED
TELEPHONE (519) 458-4331
PLEASE ADDRESS REPLY TO; PRINCETON, ONTARIO
NOJ 1VO
Mr. David W. Reed
February 9th, 1983
Mrs. Kathryn A. Campbell, C.A. B. Com. ,
Treasurer,
Corporation of the Town of Newcastle,
40 Temperance Street,
BOWMANVILLE, Ontario.
L1C 3A6
Dear Kathryn:
Re: Guarantee Company Policy 1/81-3169 -(Fidelity Bond)
Further to your inquiry re adding the fifteen Secretary-Treasurers
of the Community Centre Boards to the Town of Newcastle's bond
coverage which has a bond penalty of $ 250,000.00, please be advised
that the additional annual cost would be $ 557.00.
May we please have your instructions.
Yours truly,
FRANK COWAN COMPANY LIMITED,
David W. Reed, A. I. I.C. ,
Senior Account Representative.
pr i Lb 1 4 1933 '
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