SUBJECT: Loss of Money and Securities


APPROVED: John L. Maltbie, County Manager

DATE: October 27, 2014

County funds, securities, equipment and personal property are occasionally lost because of theft or other disappearance. The County, through the Risk Management Division of the Human Resources Department, insures against these types of losses through a crime policy or fidelity.

In the case of a loss, the affected department should immediately contact the Sheriff’s Office or the local police department that has jurisdiction. It is also essential that the Risk Management Division, Controller’s Office and District Attorney’s Bureau of Investigation are notified in writing. These divisions will ascertain the amount of the loss and possible complicity on the part of County employees or other suspects. The Risk Management Division will coordinate the claim with the insurance broker and insurance company. The loss will be reimbursed per the terms of the policy.

If the department needs an immediate cash reimbursement to the petty cash fund to cover a loss, it should make a request for a temporary advance to the Controller’s Office, Audit Division. Once proof of loss has been substantiated, the Risk Management Division will reimburse the department that suffered the loss from its appropriate risk management trust fund. All recoveries from either the insurance company or through restitution will be credited back to the trust fund. If the department is not reimbursed and desires relief from responsibility for the loss, they should contact County Counsel for assistance.

The department will bear responsibility for any deductible or retention under the insurance policy up to $100,000. Please contact the Risk Management Division for further clarification or additional questions.