73 Pa.C.S. Ch. 23

in effect

73 Pa.C.S. § 2301 Township treasurer.

(a) Appointment.--The board of commissioners shall appoint a township treasurer, who may be the elected tax collector or an employee of the township, to serve at the pleasure of the board of commissioners. The township treasurer may not be a member of the board of commissioners. (b) Compensation.--The board of commissioners shall determine the compensation of the township treasurer. Notwithstanding section 34 of the act of May 25, 1945 (P.L.1050, No.394), known as the Local Tax Collection Law, a township treasurer who is the elected tax collector of the township may receive a salary, compensation or emoluments of office for the treasurer's work. (c) Deputy.-- (1) The township treasurer shall, within 60 days of the treasurer's appointment, nominate to the board of commissioners a person to be appointed by the board as the deputy treasurer. The board may, subject to the nominated person meeting the bonding qualifications in paragraph (3), appoint the nominated person as the deputy treasurer. (2) The deputy treasurer shall have the rights and powers and shall perform the duties of the township treasurer if the township treasurer is unable to perform the duties of office due to sickness, absence or inability to act. If the township treasurer is unable to perform the duties of office and has failed to nominate a person for appointment as the deputy treasurer, the board of commissioners may appoint a deputy treasurer. The deputy treasurer shall serve until the township treasurer is again able to perform the duties of the office. (3) The deputy treasurer shall be bonded for the same amount, and in the same manner under section 2302 (relating to treasurer's and deputy treasurer's bond), as the township treasurer when acting in the capacity of township treasurer. The board of commissioners shall determine the compensation of the deputy treasurer.

73 Pa.C.S. § 2302 Treasurer's and deputy treasurer's bond.

(a) Requirements for bond.--The township treasurer shall, before entering upon the duties of office, give a fidelity bond to the township in an amount established by ordinance or resolution and at least equal to 50% of the amount of township funds estimated by the board of commissioners to be available to the township treasurer at any time during the current year. The bond shall be provided by a surety company or companies duly authorized to do business in this Commonwealth. The bond given by the treasurer shall be conditioned on the faithful performance of the duties as stated in section 2303 (relating to treasurer's duties). The treasurer may not be required to give bond or bonds aggregating an amount in excess of the taxes to be paid over to the treasurer by the tax collector. The bonding requirements of this section shall also apply to the deputy treasurer. (b) Insurance in lieu of bond.--In lieu of the bond required for the faithful performance by the township treasurer or deputy treasurer of official duties other than those of tax collector, the board of commissioners may purchase insurance under section 1902(b) (relating to bonds). Cross References. Section 2302 is referred to in section 2301 of this title.

73 Pa.C.S. § 2303 Treasurer's duties.

The township treasurer shall: (1) Receive all money due the township and promptly deposit the money in a designated depository in the name of the township. (2) Keep distinct and accurate accounts of all sums received from taxes and other sources, which accounts shall be open to the inspection of the board of commissioners, township auditor or controller. (3) Annually submit the accounts to the township auditors or controller for audit. (4) Pay out all money of the township only on direction by the board of commissioners, upon an order signed by the president or vice president and attested by the secretary or assistant secretary of the board and designating the appropriation out of which the order shall be paid. The order may not be executed unless there is money available in the treasury. The following apply: (i) Nothing in this title shall be construed to preclude the use of electronic signatures and transactions to the extent authorized by the act of December 16, 1999 (P.L.971, No.69), known as the Electronic Transactions Act, or any other law. (ii) When a treasurer pays out money except upon orders or pays money in excess of the appropriation, the treasurer shall receive no credit in the settlement of the treasurer's accounts for those amounts, nor shall the treasurer have any claim or right of action against the township. (5) Preserve the account books, papers, documents and other records of the office and turn them over to the successor in office. (6) Pay over to the successor any balance in money remaining in the treasurer's accounts or charged against the treasurer in the settlement of the treasurer's accounts. Cross References. Section 2303 is referred to in section 2302 of this title.

73 Pa.C.S. § 2304 Penalty for failure to perform duties.

A township treasurer or deputy treasurer who fails to perform any duties of the office other than those for which specific penalties are provided commits a summary offense and, in addition to the fine or penalty which may be imposed upon conviction, is required to pay to the township an amount equal to the amount of the financial loss that occurred, if any, for not performing the duties of the office. That person is disqualified from holding the office of township treasurer or deputy treasurer.

73 Pa.C.S. § 2305 Use of special funds and penalty.

When money is collected for a special purpose, a township treasurer or township commissioner may not apply that money to any purpose other than that for which it was collected. Every misapplication shall be a misdemeanor of the third degree, and, in addition to the fine or penalty which may be imposed upon conviction, the defendant shall be required to pay restitution in the amount of money improperly spent.

73 Pa.C.S. § 2306 Depositories of township funds.

The following shall apply: (1) The board of commissioners shall designate by resolution a depository or depositories for township funds. Money deposited with a banking institution of this Commonwealth shall be insured with the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund or their successor agencies, to the extent that accounts are insured. The designation is valid for a period of one year or until another depository or other depositories are designated by similar action of the board of commissioners. (2) The depository or depositories shall be banks, banking institutions or trust companies located in this Commonwealth. (3) The depository or depositories may not be required to furnish bond or collateral security to cover the amount of any deposit to the extent that the deposit is insured as in paragraph (1). (4) The township treasurer or deputy treasurer shall, upon the designation of the depository or depositories by the board of commissioners, immediately transfer to the depository or depositories the township funds and after that make deposits solely in the depository or depositories in the name of the township. (5) The township treasurer or deputy treasurer, acting in accordance with law, may not be liable for the loss of township funds caused solely by the insolvency or negligence of the depository or depositories. (6) The following apply: (i) The designated depositories shall, upon receipt of notice of their selection as a depository of township funds, collateralize deposits of public funds in accordance with the act of August 6, 1971 (P.L.281, No.72), entitled, "An act standardizing the procedures for pledges of assets to secure deposits of public funds with banking institutions pursuant to other laws; establishing a standard rule for the types, amounts and valuations of assets eligible to be used as collateral for deposits of public funds; permitting assets to be pledged against deposits on a pooled basis; and authorizing the appointment of custodians to act as pledgees of assets," which authorizes financial institutions to pledge collateral in an account in the name of the township or utilize a letter of credit from the Federal Home Loan Bank, to secure public deposits in excess of Federal Deposit Insurance Corporation insurance limits. The depository shall provide a monthly report within 15 days after the end of each month to the board of commissioners in accordance with the reporting requirements in the act of August 6, 1971 (P.L.281, No.72), including the composition of the collateral and related market value. (ii) Townships may elect to require that depositories must pledge collateral in an account in the name of the township to collateralize deposits above the Federal Deposit Insurance Corporation limit. These accounts may be custodied with the depository's trust department or at a third-party financial institution. The arrangement with the depository may be governed by a written agreement, approved by the board of directors or loan committee of the depository, with approval reflected in the minutes of the board or committee, which are kept continuously as an official record of the depository, and include the following if collateral is pledged instead of a Federal Home Loan Bank Letter of Credit: (A) Collateral shall be marked to market no less frequently than weekly. (B) Collateral shall be in investments as prescribed in the investment program provided by the board of investment or board of commissioners. (C) If the financial institution serves as the custodian, the pledged collateral shall be held in a separate account established under the act of August 6, 1971 (P.L.281, No.72), in the depository's trust department. (D) The market value of the pledged collateral shall be at least 102% of the township's deposits in excess of federally insured limits. (E) A monthly report shall be provided as specified in subparagraph (i).

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=73Fetched: 10/16/2026