Finance
Answer
EXPENSES
The Library Manager shall be authorized to spend up to the Budget amount for purchases of library materials and material for special programs.
Reasonable expenses incurred by Board Members or paid staff in connection with Board business will be reimbursed by receipt with prior board approval. Honoraria is not considered at this time. The Secretary Treasurer and Library Manager shall be paid under contract according to the rate set by the Board.
CLAIMING PROCESS
Mileage will be paid at the current per km rate set by Northern Lights Library System (NLLS) upon receipt of an Expenses Claim Form.
Any other connecting expenses shall be reimbursed upon approval by the Board.
Signed contracts stipulating the Secretary Treasurer’s and Library Manager’s yearly salary will be kept on file.
SIGNING OFFICERS
Each cheque prepared by the Village of Edgerton Library Board requires two signatures. The signing officers shall be any two of the Secretary Treasurer, Chairperson or Vice-Chairperson. The signing officers shall be appointed by a Board motion.
CASH HANDLING
Cash will be kept at a minimum. The Treasurer will be notified if total cash exceeds $200.00. Any cash over $50.00 will be stored separately and locked up at all times.
FINANCIAL REVIEW
The books, accounts and records of the Secretary and Treasurer shall be reviewed at least once each year according to provincial guidelines. December 31st in each year shall be the end of the fiscal year.
TREASURER
The Treasurer shall receive all monies paid to the organization and shall be responsible for the deposit of same in whatever bank the Board shall order. The Treasurer shall properly account for the funds of the organization and keep such books as may be directed. The Treasurer shall present a full detailed account of receipts and disbursements to the Board whenever requested and shall prepare for submission to the first meeting of the new fiscal year, an externally reviewed statement as hereinafter set forth, of the financial position of the organization and submit a copy of the same to the Secretary for the records. The office of the Secretary and the Treasurer may be filled by one person
BUDGET
An operating budget shall be prepared annually and approved by the Board at the first meeting of the fiscal year. The Library Manager and Treasurer are authorized to administer funds according to the budget. Expenditures not contemplated in the approved budget, re-allotments or over-expenditure of funds will require the prior approval of the board.