Massachusetts Public Library Trustees Handbook
| Chapter 7. Budgeting and Financial Management | ||
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Table of Contents
When dealing with public funds, financial accountability is imperative. Public library trustees are responsible for the securing and supervision of library finances. Neither the trustees nor library director can be expected to be lawyers or accountants, but they should be knowledgeable enough to be sure requirements are fully met. Responsibilities include:
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Knowledge of the library's financial base and local, state, and federal allocating authorities for library funds
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Knowledge of supplementary sources of revenue
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Understanding the financial needs of the library's operation
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Obtaining funds needed for maintenance, growth, and expansion
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Understanding the basics of legal requirements and reporting requirements for library funding
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Ability to manage trusts and endowment funds when appropriate.
The Massachusetts Board of Library Commissioners and the regional library systems can provide guidance on regulations and practices affecting library finances. Additional assistance may be provided by state and national professional associations.
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| Legal Rights of Employees to Organize and Bargain Collectively |  |
Budget Preparation |