Policy on Budget Revisions for Regional Library Systems
1.) A budget revision request must be filed with the Board of Library Commissioners when:
a.) the proposed budget revision results in re-allocation of 10% or $50,000, whichever is greater, of the funds for any individual major category in the region's most recently approved program budget (delivery, supplemental reference, interlibrary loan, continuing education and training, advisory and technical assistance, supplemental services, regional coordination/administration).
b.) the proposed budget revision results in the addition or deletion of 1.0 FTE or more or $40,000 or more in the Personnel category of the line item budget.
c.) the proposed budget revision results in any change in a Cherry Sheet amount for a "regional public library" or a change of greater than 10% to any other contract for service included in the Sub-Contractual Services category of the line item budget.
2.) The regional administrator is responsible for officially notifying the Board of Library Commissioners of regional executive board actions relating to budget revisions which necessitate approval by the Board of Library Commissioners.
3.) Requests for budget revisions must be submitted on the prescribed forms by the regional administrator. Both program budget and line item budget forms are required for any revision.
4.) Expenditures reflecting proposed revisions shall not be incurred or obligated prior to receipt of the required approval of the revision. No reimbursement will be made or expenditures made prior to the required approval of a budget revision. For regions operating under forward funding, no advance payments will be made for any quarter if the requested amounts or reported expenditures are at variance with the current approved budget.
5.) Requests for budget revisions must be accompanied by the following information:
a.) a narrative summary of the proposed changes including an explanation and justification of the revisions, and
b.) a brief explanation of the effect of the proposed budget revision on the region's plan of service, if any.
6.) A budget revision effecting major change in the region's plan of service will require the recommendation of the region's council of members at a meeting duly called for the purpose before it is submitted to the Board of Library Commissioners for action.
Initial Policy Approval Date: May 4, 2000
Policy Renewal Date: April 7, 2005
Policy Renewal Date: April 1, 2010
Policy Expiration Date: April 7, 2015