What is the role of the library director in helping the board to monitor the budget?

Modified on 2020/11/20 14:58 by Jeremy Stroud Categorized as Budget, FAQ

<p>To facilitate the board&rsquo;s monitoring of library finances, the director must:</p>
<ul>
  <li>Present them with financial statements that the library board and other constituencies can understand;</li>
  <li>Provide them with monthly financial reports that include:</li>
  <ul type="circle">
    <li>Year-to-date revenues and expenditures compared to initial projections;</li>
    <li>The total budget delineated by <a href="https://sao.wa.gov/bars_gaap/reporting/reporting-principles-and-requirements/bars-reporting-requirements/" target="_blank" class="externallink">BARS (Budgeting, Accounting, and Reporting System)</a> categories;</li>
    <li>The balance of budgeted funds remaining for the fiscal year;</li>
    <li>An explanation of any significant changes.</li>
  </ul>
</ul>

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What is the role of the library director in helping the board to monitor the budget?