Yutan Public Library
Finance Policy
Updated October 5, 2009
Establishment of Yutan Public Library
Yutan Public Library was established by City of Yutan and is maintained by the City of Yutan thru the Library Board. The Library operates under the guidelines of State of Nebraska Statutes, Yutan City Ordinances and Yutan Public Library Bylaws and Policies.
Funding
Yutan Public Library is funded by the City of Yutan. The funds shall be kept for use by the Library separate and Yutan Public Library apart from other funds of the City of Yutan. It shall be known as the Library Fund. The Library Fund shall also include funds received from other sources for the library.
The Library Board shall have control of all money collected for or donated to the Yutan Public Library and of all expenditures from the library fund.
Budget
The fiscal year for Yutan Public Library shall be October 1st through September 30th, the same as the City of Yutan.
The Library Director and Library Board shall prepare a proposed budget to submit to Yutan City Council for consideration during budget discussions for the next fiscal year. The proposed budget shall include expenses for salaries, Library materials, equipment, utilities, insurance, maintenance, and other items that may be required to operate the Yutan Public Library in a manner that meets the needs of the community. It shall also include any other source of income that may be expected other than from the City of Yutan.
Expenditures
Purchases of library materials are made by the director throughout the year. Purchases may be made from sources with accounts previously established with charge privileges. Other purchases may be made and appropriate receipts submitted for reimbursement.
Purchases made for materials of budgeted items do not require prior approval. Non-budgeted items or items that exceed the budgeted amounts should be presented at a regular board meeting and submitted to the City Clerk for payment at the City Council meeting.
Requests may be made to the City Clerk for a check to be written prior to the City Council meeting to meet a conference registration deadline or necessary purchase.
Money collected
Money collected or received by the library shall be submitted to the City Clerk for deposit to the Library Fund. The source of the money shall be indicated.
Audit
The Library Fund will be audited annually as part of the City of Yutan audit.
Reports
The City Administrator or City Clerk will prepare a monthly report on the Library Fund for library staff and library board review at the Library Board Meeting. The report shall include sources of income and expenditures made for the month itemized in the appropriate accounts of the library budget. The report shall track balances for each account and status of budgeted amount for each account.
Library staff and library board shall prepare and annual report to City of Yutan which will show sources of money received and expenditures made. It shall include statistics, information and suggestions as the Library Board may deem of general interest to the City Council.
Library Staff and Library Board shall also submit reports to Nebraska Library Commission as required for Library Accreditation and other reports that may be requested.