Before entering upon his or her duties, the associate superintendent of business affairs of a Class IV school district shall give a bond payable to the school district in such sum as the board of education may fix, but not less than five thousand dollars, and shall take and subscribe the usual oath of office. The board of education may require any other officer or employee to give a bond in such an amount as it may deem necessary. The cost of all bonds shall be paid by the school district and shall be approved by the board of education.