Trustee Essentials: Understanding Local Government Budgeting and Finance
Topic outline
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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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Read this section first for some information about the course and how to navigate through.
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View 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.
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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.
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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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It will take about 3 minutes to complete.
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