The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-01-30
BONDING MANAGER
urges SAFEGUARDS
FOR public FUNDS
Recommends Examination Of
Treasursrs' Books and
Other Measures

Recommendations to enact legisla-
ton to further safeguard public funds
against loss from wrongful acts and
negligence Of public officials, and bank
failures" are made In the report pre-
sented to the legislature by r. +.
Tunell, manager Of the state bonding
fund.
The report recommends that treas
urers Of cities, villages, school dis
tricts and townships be prohibited
from Withdrawing money from any
depository bank, and that such banks
be prohibited from paying out public
funds except on warrants signed by
the president, or chairman, and audi
tor or clerk, and countersigned by the
treasurer.
A recommendation Is made that
county superintendent reconcile bank
accounts Of school districts. Clerks
and treasurers In cities and school
districts exceeding 1000 population
should be examined each year by the
state examiner, the report says, add
ing such q system would almost en-.
tirely eliminate embezzlement Of
school district funds In the future"
Asks Uniform Accounting
II q proposal to abolish treasurers
of local municipalities Is adopted by
the legislature. the report says, q pro-
vision should be made for q uniform
system of accounting by the county
treasurer and county auditor with re-
spect to keeping the accounts Of the
local municipalities. Such q system Of
accounting would be supervised by
the state examiner. Bond Of the
county treasurer would be increased
il the county treasurer Is made Gus
todian Of all public moneys Of local
subdivisions. If the change Is made,
the report suggests. county treasurers
should be examined every six months
instead of once q year.
It also Is recommended that the
public administrator be examined by
the state examiner; that all deposits
made with the clerks of the district
court, sheriff and public administra-
tors, except taxes and fees. be imme-
diately deposited with the county
treasurer to be kept In special fund;
that 1t be made unlawful for any
bank or banker to accept funds with
out having first provided protection
as required by law for public moneys:
that It be made unlawful for any
treasurer to deposit public funds In
any bank Of which the treasurer Is IN
officer or employe.
Business Was Profitable
The report shows premiums and In.
terest received during 1882 totaled
$500 ,3049l. The ratios to income
earned were: losses sos per cent, oper-
ating expenses 119; operating profit
SIG per cent.
Recommendation made by Tunell
as manager Of the state fire and tor
nado fund included one that fire and
tornado insurance on all public prop
erty in North Dakota be placed with
the state fire and tornado fund.
while the fund carries total Of u
per cent Of the insurance coverage on
all public property in North Dakota, }"
the report says, "the proportionate
number of buildings carried by the
fund is only 81 per cent Of the total.
The property which Is not covered by
the insurance with the fund Is prin.
cipally made up Of small rural school
buildings. Tunell also recommended
that the rate Of premium to Be
charged by tho fund be fixed ct 60
per cent Of the rates as promulgated
by the general inspection bureau.
The report showed estimated valua-
lions Of public property and insurance
coverage to total $63, 900 900 for state.
school, county and city property. In
surance at 80 per cent Of value,
$40 900 900; insurance carried by
fund, $4,000, $50; and percentage car
ried by fund "a per cent.
Ratios to premiums earned were 30.6
per cent losses, for 1882: 81 UNDER
writing expense, and SAL underwrit-
ing profit.