Your Library and Its Finances
Local Government Accounting
Review of the Local Government Budget Act
Key points to remember after reviewing the Local Government Budget Act
- Don’t spend more money than you are authorized to spend.
- Give plenty of public notice before adopting or amending (changing) a budget.
- Follow the guidelines and rules of the Department of Administration’s Local Government Services Bureau when designing your budget, changing your budget, developing financial statements, and submitting annual reports.
- In most cases, the county or town clerk or finance officer will take care of the financial reports and submitting annual reports for the library.
- Review 7-6-4020, MCA. Preliminary annual operating budget to understand what the county or city needs to report as part of the budget.
- Carry the correct percentage of funds in your cash reserves