§ 74077 Commission Fund Handling Requirements

• •Money collected from fees or other sources must be put in a bank chosen by the commission.
• •The commission decides how and when to spend this money, using a person or group they pick.
• •The person or group handling the money must have insurance (called a 'fidelity bond') worth at least $25,000 to protect the money.

A local group collects money from a community event to fix up a park.

The group must put all the money in a bank they choose. They pick someone to manage the money, and that person must have insurance worth at least $25,000 to make sure the money is safe.