FINANCIAL POLICY
Library Expenditures:
The Library Director will be responsible for purchasing library materials and supplies. She/he will have use of a Visa card issued to the Library. If a purchase is over $250.00, the Library Director must first have approval from the Board of Trustees.
COLLECTION MATERIALS BUDGET:
Approximate 12 percentage of budget to be spent for books:
75% for book budget.
15% for movie budget
5% for Periodical budget
5% for computer software
Library Savings Account:
The Effingham Community Library will keep a general savings account. This fund will be used for improvements made to the library and, if help is needed, to pay monthly bills. Exceptions may be made only if the Board of Trustees votes to approve.
Capital Improvement Fund:
The Effingham Community Library will keep a Capital Improvement Fund. This fund will be used to hold monies for improvement to the library. When needed and at Board approval, money will be transferred to the library checking account for the approved purpose.
Insurance:
Insurance is purchased from an insurance agency within our county. Library Board Treasurer’s bond will also be purchased from an agency within the county.
Gifts [other than books]:
All monetary gifts are very much appreciated. Gifts for special purposes are solicited from local businesses.
Regarding annual reports, budgets, Etc.:
We do not publish. The city council receives a copy of the library budget each year.
Petty Cash:
Monies received from printing, book sales, faxes, postage, book replacement fees and fines will be designated as “Petty Cash”. This money will be kept in a bank pouch in the drawer. No more than $25.00 will be kept in the drawer at a time. All excess funds will be deposited into the library checking account.
Money received and spent from this account will be itemized monthly in a special “Petty Cash” ledger. Expenditures from this account will be for postage, lunches, schoolbook order, or any small expense that might need paid when the treasurer is not here.
Prices for services:
It shall be the policy of the Effingham Community Library that copies and faxes may be made and or sent from or to the library. There will be a small fee to the library for the use of these services. The fees will be as follows:
Black & White Copies – .15 cents per sheet
Color – .50 cents per sheet
Sending Faxes – $1.00 for 1st page, .50 additional pages Receiving -.25 per page
Laminating: $2.00 a yard with a $4.00 minimum
Patrons who use these services without paying will be subject to losing any or all other library privileges as the director sees fit.