The Board will maintain insurance adequate to safeguard the school district's property and assets. Each fiscal year, the finance officer will make recommendations to the board on the amounts and types of insurance which should be obtained, such as errors and omissions, general liability, boiler and machinery, real and personal property, auto liability, and workers' compensation.
Insurance premiums will be included in the budget as a necessary expense.
The finance officer will maintain custody of insurance policies and insurance programs.
Legal Reference: G.S. 115C-36, -47, -435
Cross Reference: Insurance for Student Transportation Services (policy 6330), Defense of Board Employees (policy 7610)
Adopted: January 9, 2006