Policies - Constitution

CRESTON PUBLIC LIBRARY ASSOCIATION ORGANIZATION AND POLICY MANUAL

1.3 Funding, Expenditures and Financial Statements

a. - The Board may adopt means for raising funds to support the Public Library Association, including an annual fee for memberships in that association, but the membership fee must not be used to prevent a person from receiving free library service.

b. - The Board has exclusive control over the expenditure of:
- 1. - all money raised by or grants provided to the Public Library Association,
- 2. - all money given to the Public Library Association,
- 3. - the revenue derived from any source, including
--- i. - fees,
--- ii. - fines, and
--- iii. - money recovered by the Board for detention, damage or loss of library materials,
--- iv. - all money received by the Public Library Association under an agreement for the provision of library service.
--- v. - expenditure of operating funds is delegated by the Board to the Chief Librarian.

c. - The Board must:
- 1. - ensure the preparation of annual financial statements to be audited by the auditors appointed by the Board, and
- 2. - provide, on or before March 1 in any year, a copy of the audited financial statements to the minister and to any municipality or regional district that provides a grant to the Public Library Association.

e. - The Treasurer shall oversee and be responsible for all expenditures and receipts. The Chief Librarian or designated staff shall maintain all bookkeeping records, which are to be kept on the library premises. All accounts shall be audited at the end of the fiscal year, and at such time as a general or special meeting shall direct, and at any time the Board of Management shall direct. The fiscal year shall end on the thirty-first day of December each year. A copy of the Financial Report shall be sent to the Superintendent at Victoria as soon as possible after the Annual General Meeting.