Section outline

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    Welcome to the Course

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    Most public libraries in Montana are funded primarily by tax revenue collected at the local level. They may receive state funding, grants, or private donations but the largest percentage of their revenue comes from taxes.

    Understanding the library’s revenue, expenditures, and local government budgeting is an important duty of the library board and director. There is an expectation that the director and board will manage public funds wisely. This course explores key concepts surrounding local government budgets and revenue sources in order to help trustees and directors create and manage the library’s budget.


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    Building Your Knowledge of Finances

    • Your Library and Its Finances Lesson
      Students must
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      Spend at least 15 mins on this activity
      Go through the activity to the end

      This lesson presents a lot of information about finances and budgeting for public libraries.  You will be able to navigate through information, resources, and activities using the buttons in each page or the lesson menu. 

      There are four main topics

      • Local Government Accounting
      • Library Board Authority and the Role of Local Government Officials
      • Sources of Revenue
      • Common Expenditures and Expenses

      There will be some short quizzes throughout this lesson to help point out key details.

    • Building Budgets and Reading Financial Statements Book
      Students must
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    • Financial Reports Book
      Students must
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    Useful Resources

    • Budget and Finance Terms Glossary
      Students must
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      Review the terms in this glossary to help recall important concepts in the course. 

      You can print the whole glossary to keep as a resource for board meetings and meetings with local government officials.

    • Guides, Handbooks, and Other Useful Resources Folder
      Students must
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      This folder contains several useful and downloadable resources.  Browse through the items and download items for your use.  

      For additional resources that are useful for Trustees and Library Directors, please visit the MSL Library Budget and Finance Resources webpage.

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    Course Wrap Up