City of Oak Creek

Common Council Report

Meeting Date:  5/17/07

Item No.:        

Recommendation:  That the Common Council authorize the Mayor to execute a Release and Assignment of Claim in the amount of $32,520.00, as requested by the City’s Blanket Bond-Employee Dishonesty carrier, The Ohio Casualty Insurance Company.

Background:  As you are aware, the former City Treasurer, Barbara Davison, was charged with theft in the amount of $33,520.  The City filed a claim with its bond company, Ohio Casualty Group (OCG).  OCG has agreed to pay the claim, less the $1,000.00 deductible.  A copy of their letter and release is attached to this report.

Fiscal Impact:  The City will recover all but the $1,000.00 deductible in this matter.

Prepared by: Barbara Guckenberger City Treasurer	Respectfully submitted, Patrick DeGrave City Administrator
Fiscal Review by: Beverly A. Buretta, CMC City Clerk