Valleyview Municipal Library

SECTION 300 - BUSINESS PROCEDURES

 
300 GUIDING PRINCIPLES FOR BUSINESS PROCEDURES

Definitions:

Board shall refer to the Town of Valleyview Library Board

Trustee shall refer to a member of the Town of Valleyview Library Board

Library Co-ordinator and Library Co-ordinator are synonymous terms, and refers to the individual hired to operate the Library on a day-to-day basis.

Library shall refer to Valleyview Municipal Library

PLS shall refer to Peace Library System

The Board believes the adequate provision of staff, equipment, facilities and resources are necessary in order to properly manage and maintain the business affairs of the Valleyview Municipal Library.

The Board believes that the operating costs of the Library should not exceed the available revenues.

The Board expects the Library Co-ordinator of Valleyview Municipal Library to set up and administer the fiscal resources of the Board in accordance with sound, accepted accounting procedures.  The Library Co-ordinator shall keep the Board informed of the financial status of the Library.

300.1 Fiscal Year

The Fiscal Year for the Board shall be January 1 to December 31.

300.2 Finance Committee

The Finance Committee will serve in an advisory capacity to the Board and a consultative capacity to the Library Co-ordinator. This is to ensure the development of fiscal policy and an annual budget consistent with the mission and the goals of the Library Board.

The Finance Committee shall monitor the financial statements on a monthly basis.

CROSS REF: 203.4.1 Committees of the Board

301 LIBRARY BUDGET

The Board of Trustees believes that the budget is an integral part of the Board’s financial plan and that this financial plan and the Board's library services plan are an integral part of the Board's Plan of Service.

The Board believes that budgeting is a continuous process that enables the Board to set priorities and accomplish its objectives and also defines the limit of financial resources.

The Board believes that budgeting is a flexible activity in need of frequent review with regard to resources, estimated and actual revenues and expenditures.

The Board believes that one of its prime responsibilities is to follow an effective budget procedure that ensures sufficient funds are available to provide a high-level library program.

The Board believes that the budget procedure is an important function of the Board’s operation and should serve as one of the means to improve communication between the library organization and its funding agencies and community residents.

301.1 Planning the Budget

Planning of the annual budget shall be an ongoing exercise leading up to the preparation process as spelled out in Section 301.2.

The Board reserves the right to establish budgetary guidelines for the Library Co-ordinator to work within.

The Board reserves the right to hold planning sessions to discuss budgetary guidelines and long-term strategic planning.
        
The Board shall have in place an operational budget plan that is based on the library needs of the community.  This plan shall be updated yearly.

The budget shall be balanced and deficit free.
 

301.2 Preparation of the Budget Document

On an annual basis, the Library Co-ordinator shall be responsible for preparing the budget document for consideration by the Board of Trustees at the October meeting.

The Library Co-ordinator shall prepare the budget based on the mission statement, priorities and long-range plans of the Library and in concurrence with guidelines established by the Alberta Libraries Act.

LEGAL REF: Libraries Act Section 8 (1)

301.3 Budget Adoption by the Board

The Board of Trustees shall adopt the budget for the coming fiscal year on or before October 31 of each year.

301.4 Submission of the Budget Document

a) The proposed budget shall be submitted to the Town of Valleyview and the Municipal District of Greenview No. 16 for approval of the municipal grants, by November 1 of each year.
b) Upon approval of the municipal grants application by the Town of Valleyview and the Municipal District of Greenview No. 16, the budget shall be submitted to the Minister as required and defined by the Alberta Municipal Affairs Public Libraries Branch.

LEGAL REF: Library Act Section 8(3)

301.5 Publication of the Budget

Copies of the approved Library Budget shall be available at the Library.

301.6 Borrowing Powers   

Subject to provisions under the Libraries Act, the Board may, as required, borrow from or offer security to a financial institution or corporation for expenses other than capital projects. 

For capital projects, the Town of Valleyview and the Municipal District of Greenview No. 16 Councils may, at the request of the Board, take the necessary steps to furnish the money by the means outlined in the Municipal Government Act.

LEGAL REF: Libraries Act Section 10

 
302 REVENUE

The Library Co-ordinator is responsible for ensuring that all monies due the Library whether from Alberta Municipal Affairs, the Town of Valleyview and the Municipal District of Greenview No. 16 through grants, or from various other sources, are properly recorded and accounted for.  The Library Co-ordinator shall record revenue as it is earned necessitating the establishment and collection of accounts receivable.

302.1 Provincial Grants

Library revenue will be forthcoming from Alberta Municipal Affairs on a per capita formula. The Library Co-ordinator shall submit an application annually to Alberta Municipal Affairs for the Library Operating Grant and periodically prepare reports and projections as required and defined by the Alberta Municipal Affairs Public Libraries Branch.

Any extraordinary grants shall be utilized for the purpose for which they were sought and shall be disbursed following current Library protocols.

302.2 Municipal Grants                             

An estimate of the funding required from the Town of Valleyview and Municipal District of Greenview No. 16 for the ensuing fiscal year to operate and manage the Valleyview Municipal Library, along with a proposed budget, shall be prepared and delivered to a joint council meeting of the Town of Valleyview and the Municipal District of Greenview No. 16 prior to November first each year.

LEGAL REF: Libraries Act, Section 11
By-law 9-97 Section 4.

302.3 Library Fees    

The Board shall, in accordance with the by-law, ratify a fee schedule.  Subsequent changes to the fee schedule shall require approval of the Board. Current fee schedules shall be posted for public viewing.

LEGAL REF: By-law 1-2004  Schedule A
REF: Admin Practice 302.4: Fee Schedule

302.4 Fundraising

Fundraising is an important function of the Library’s operation. The main fundraising arm of the Valleyview Municipal Library is the Friends of the Valleyview Library Society, although the Library can directly hold a fundraising function if approved by the Board.

Resulting funds raised are considered revenue for the Library.
 

See Also:  Appendix 308 Chart of Accounts