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Public Libraries – Bonded Treasurer

August 5th, 2010

Illinois Library Law requires public libraries of all types to have the Treasurer Bonded in an amount not less than 50% of the total funds received by the library in the last fiscal year.   75 ILCS 5/4-9 or 75 ILCS 16/30-45(e)  Some libraries have reported to the ILA Public Policy Committee (PPC) that they are having difficulty in either obtaining a bond from an insurance company or having a treasurer willing to answer the personal finance questions on the application for the bond.  PPC is seeking information to find out if this is a wide spread problem in the Illinois Library Community.  If your library is having either of these issues, please contact Bev Obert, Executive Director, Rolling Prairie Library System.  You can contact Bev by email at bevo@rpls.ws.  In your email, identify your library, librarians name and what your issue is with the surety bond.  Thank you for your help.

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