Building Budgets and Reading Financial Statements

Creating a wish list for the budget year is an essential step in building a budget for the coming fiscal year.

• What building repairs or capital improvements would the library like to make in the next fiscal year? What will they cost?
• What new programs and/or library services would the library like to offer in the next fiscal year? What will they cost?
• Does the board want to give staff raises? If so, how much? What is the cost of doing so?
• Are there any other items the library wants to accomplish that cost money? What are they and how much will they cost?

Prioritize this list. It’s likely the library won’t be able to pay for all these items.