Budget and Finance Terms

The Library Depreciation Reserve Fund (LDRF) is a type of reserve fund especially for public libraries under Montana statute:    

22-1-305. Library depreciation reserve fund authorized. The governing body of any city or county or a combination of city and county in Montana may establish a library depreciation reserve fund for the replacement and acquisition of property, capital improvements, and equipment necessary to maintain and improve city, county, or city-county library services. 

22-1-306. Moneys for library depreciation reserve fund. Moneys for the library depreciation reserve fund are those funds which have been allocated to the library in any year but which have not been expended by the end of the year. Such moneys include but are not limited to city or county or city-county appropriations, federal revenue sharing funds, and public and private grants.

22-1-307. Investment of fund. The moneys held in the library depreciation reserve fund may be invested as provided by law. All interest earned on the fund must be credited to the library depreciation reserve fund.  

The library may want to establish a library depreciation reserve fund to pay for major repairs and upgrades. 

For more information please refer to the Library Depreciation Reserve Fund handbook on the MSL website.