School Business Services
School Treasurer Bonds
Section 3-8 and Section 8-2 of the School Code (105 ILCS 5/3-8 and 105 ILCS 5/8-2) require Regional Superintendents of Schools to file an affidavit with the Illinois State Board of Education (ISBE) showing which treasurers of school districts in their region are properly bonded. This affidavit must be filed by September 1 of each year. Copies of the actual school treasurer bond should not be filed with ISBE.
Section 8-2 of the School Code (105 ILCS 5/8-2) requires each treasurer of a school district to be properly bonded. The penalty of the bond shall be 25% of the amount of all bonds, notes, mortgages, moneys and effects of which the treasurer is to have custody. The bond shall be increased or decreased from time to time, as the increase or decrease of the amount of notes, bonds, mortgages, moneys and effects may require. The bond shall be payable to the township trustees of schools over the district or payable to the school board of the district, whichever is applicable. The bond shall be filed with the Regional Superintendent of Schools.
Section 3-8 of the School Code (105 ILCS 5/3-8) describes the duties of the Regional Superintendent of Schools upon receipt of the treasurer bonds. When the bond of any school treasurer is filed with the Regional Superintendent of Schools, the Regional Superintendent shall carefully examine it. If the bond is found to be in all respects according to law and the sureties sufficient, the Regional Superintendent shall endorse his/her approval and file it with the papers of his/her office. If the bond is in any respect defective, or if the sureties are insufficient, the bond shall be returned for correction.
In Cook County, the responsibilities and duties of the Regional Superintendent of Schools detailed in Section 3-8 and Section 8-2 of the School Code (105ILCS 5/3-8 and 105 ILCS 5/8-2) will be assumed by the respective Intermediate Service Center.
The following electronic versions (excel, word, and .pdf) of the Affidavit of Treasurer Bonds are available below. The affidavit should be mailed by September 1, each year, with original signature, to:
Illinois State Board of Education
School Business Services Division N-330
100 North 1st Street
Springfield, Illinois 62777-0001
Affidavit (ISBE Form 50-03)
If you have any questions, please contact Michelle Heninger at 217.785.8779.