KRS 160.560: Treasurer of board of education -- Selection -- Bond -- Duties.

(1) Each board of education shall elect a treasurer for the board. The board may elect its

secretary to serve as treasurer. The board may remove the treasurer from office at

any time for cause by a vote of a majority of the members of the board.

(2) The treasu rer shall execute an official bond for the faithful performance of the

duties of his office, to be approved by the local board and the commissioner of

education. The bond shall be guaranteed by a surety company authorized to do

business in this state, and shall be in an amount determined by the board of

education in accordance with the administrative regulations promulgated by the

Kentucky Board of Education. The premium on the bond shall be paid by the board

of education. A copy of the bond shall be filed with the board of education and with

the commissioner of education.

(3) The treasurer shall receive all moneys to which the board is entitled by the

Constitution or by the statutes, except as otherwise provided by law, or which may

in any way come into its possession, and deposit such funds in the properly

designated depository. He shall withdraw such funds from the depository only upon

proper order of the board. He shall keep a full and complete account of all funds in

such manner and make such reports con cerning them as is required by the board of

education or by the Kentucky Board of Education. He shall preserve all records

relating to the transactions and duties of the office and turn them over to his

successor along with all public funds in his hands an d all accounts and records after

due and proper audit is made by a competent outside agent when he is required to

do so by the board of education.

(4) The treasurer shall issue his check on the depository for payment of all legal claims

which have been aut horized for payment in accordance with policies previously

adopted by the local board of education and approved by the commissioner of

education.