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Clay County treasurer resigns over bonding difficulties
Clay County Treasurer Sam Glover resigned on Thursday after the county was unable to economically secure his bond as a public official.
Glover, who was beginning his first term, said in a statement that his past financial problems made it difficult for the county to bond him at a cost that wouldn't burden taxpayers.
"It is with deep regret that I am resigning my position as Clay County Treasurer effective (Thursday)," Glover said in the statement. "When I entered this race a year ago, it was with the intent that I complete the entire length of the term to the best of my abilities. Sadly, some past personal issues, which I was previously assured would not affect my ability to fulfill my responsibilities as Treasurer, have kept me from obtaining cost effective bonding as is legally required by the state of Indiana."
Public official bonds, according to the Association of Indiana Counties, protect counties from liability and safeguard the integrity of public funds. They require county officers to pledge to reimburse the county against costs or other losses occasioned by wrongful or negligent actions. Counties typically purchase surety bond insurance covering the performance of the duties of the respective office.
In 2009, the bond for the county treasurer had to equal $15,000 for each $1 million of receipts of the office for the previous year, according to AIC.
Glover, a Republican, defeated Democrat C.R. Boyd in November's General Election. The seat opened after Treasurer Debbie James had reached her term limit.
Glover had served on the Brazil City Council.
Republican Party Chairperson Jodi Lohrman said, as per state statute, a caucus of Republican precinct committeemen will be called later this month to fill the vacancy.
"We make every effort to work with each of our Republican candidates in advance of filing and of the election to ensure they can meet the requirements of each respective office," Lohrman said in a separate statement. "This case was no different, having worked with both Sam and others to ensure he could fulfill his legal responsibilities as Clay County Treasurer. We respect Sam's decision to resign as Clay County Treasurer even though bonding was possible, but not cost effective to the citizens of Clay County."
Glover, meanwhile, said the resignation came after he "exhausted" all of his options.
"Many in our communities have faced personal financial struggles over these past several years," Glover said in his statement. "As a car salesman and Realtor, when the economy faltered, so did my income -- putting a real strain on my ability to meet my personal financial commitments. Having spent some time in resolving those issues, I spoke with a reliable source to ensure that would not affect my ability to obtain bonding which is required by law in my role as Clay County Treasurer. Although I would have been able to obtain bonding, the cost of the bond, in my opinion, was an unfair burden to the taxpayers of Clay County."
Glover said he is grateful for the opportunity Clay County voters gave him.
The following are Glover's and Lohrman's complete statements emailed to The Brazil Times on Thursday.
Sam Glover's resignation announcement
It is with deep regret that I am resigning my position as Clay County Treasurer effective February 5, 2015. When I entered this race a year ago, it was with the intent that I complete the entire length of the term to the best of my abilities.
Sadly, some past personal issues, which I was previously assured would not affect my ability to fulfill my responsibilities as Treasurer, have kept me from obtaining cost effective bonding as is legally required by the state of Indiana.
Many in our communities have faced personal financial struggles over these past several years. As a car salesman and realtor, when the economy faltered, so did my income - putting a real strain on my ability to meet my personal financial commitments. Having spent some time in resolving those issues, I spoke with a reliable source to ensure that would not affect my ability to obtain bonding which is required by law in my role as Clay County Treasurer. Although I would have been able to obtain bonding, the cost of the bond, in my opinion, was an unfair burden to the taxpayers of Clay County. Having exhausted all of my options to obtain reasonably priced bonding, I am left with no other choice than to resign my position as Clay County Treasurer.
I will be forever grateful for the opportunity the voters of this county gave me to serve. I will always be humbled at the honor of being the recipient of the most votes in the 2014 Election. I am not sure what the future holds for me, but I will remain an ardent supporter of all of the good work being done by our citizens and elected officials to make Clay County a great community.
Clay County Republican Chairperson Jodi Lohrman's statement
It is with deep sadness to receive Sam's resignation as Clay County Treasurer. Sam has served our community well over the last several years as a Brazil City Councilman and as a volunteer for numerous organizations including the United Way, Junior Achievement of the Wabash Valley, Clay County Community Foundation, and the Brazil Rotary Club.
We make every effort to work with each of our Republican candidates in advance of filing and of the election to ensure they can meet the requirements of each respective office. This case was no different, having worked with both Sam and others to ensure he could fulfill his legal responsibilities as Clay County Treasurer. We respect Sam's decision to resign as Clay County Treasurer even though bonding was possible, but not cost effective to the citizens of Clay County.
There is no doubt in my mind Sam would have served the citizens of Clay County effectively and efficiently as our Clay County Treasurer. As per state statute, a caucus of Republican precinct committeemen will be called later this month to fill the vacancy. Although this is not what any of us wanted or expected, this does not diminish our respect and support of Sam.