Building Budgets and Reading Financial Statements

The budget may need to be modified. The library often has more needs than it has income to pay for those needs.

Consider removing some of the wish list items or reduce the amount spent on flexible categories such as library materials.

Consider whether the library could raise more revenue. If the difference is small, is it possible for a library support organization to help with the difference? Are there grants? Are there local donors who can help?

Continue to make these comparisons until the revenues equal the expenditures.