University of Virginia Library

BONDING OF UNIVERSITY OFFICIALS

Visitor Williams referred to a recent case of embezzlement of University funds and stated his belief that the bonds of the University's financial officials were not high enough and should be increased. He moved that the Chairman of the Finance Committee be authorized to see to it that the bonds are in sufficient amounts to protect the University and that the amounts to be set be left to his discretion.

After discussion, the following resolution was adopted:

• RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that the Chairman of the Finance Committee be and he is hereby authorized to review the current bonds of all University financial officials and to see to it that these bonds are in amounts sufficient to protect the interests of the University, the specific amounts to be left to his discretion.