Your Library and Its Finances
Completion requirements
There will be some short quizzes throughout this lesson to help point out key details.
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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.
Independent Library District
If your library is an independent library district established under MCA 22-1-702, then read on!
| Duty | Library Board Responsibility | City Council or County Commission Responsibility |
|---|---|---|
| Create a budget for the library | X | |
| Decide on the bottom line of the budget (the taxes available for the library to use) | X | |
| Adopt the library’s budget | X | |
| Levy taxes to provide public revenue funds for the library | X (at the request of the library district board and not to exceed amount approved by voters) |
|
| Monitor the library’s revenues and expenditures to make sure things are on track | X (with the help of the director) |
You can move to the quiz questions or review the other types.