Budget and Finance Policy
A. Budget Preparation Process
The City of Atchison will request from the library in May or June a library budget proposal. The budget should be approved by a quorum of the library board in an open meeting.
The budget will be based on the current and future needs of the library based upon its vision statement and strategic plan.
Prior to the filing of the proposed budget with the City, the governing body of the municipality shall met for the purposes of answering and hearing objections of taxpayers relating to the proposed budget and for the purpose of considering amendments to the proposed budget. The governing body must give as least ten days’ notice of time and place of the meeting by placing a notice in the local newspaper.
The public notice must set out all essential items in the proposed budget. The budget may remain the same or be lowered at this meeting, but not increased (K.S.A. 79-2929).
The hearing must be held not less than 10 days prior to the date on which the board shall certify its levy to the City (K.S.A. 79-2933).
B. Budget Allocations
If the Atchison Library is to be funded adequately, the Board should direct the allocation of budgeted funds in the following proportions:
Personnel 65 – 68%
Operations 15 – 20%
Resources 12 – 15%
C. Use of Funds
Once the budget is approved and filed with the city clerk the appropriation shall note be used for any other purpose. Expenditures may not exceed the published budget. Any balance remaining in the fund at the end of the current budget year shall be carried forward to the next budget year (K.S.A. 79-2935).
D. Source of Funds for Tax Budget
Although the total income of the Atchison Library is derived from a variety of sources, such as grants and memorials, the basic budget depends on tax income.
The library tax budget is funded with ad valorem tax levy funds, back taxes (delinquent funds), motor vehicle tax funds, and may also be funded from the general fund of the City budget.
For the most part, this library’s budget is primarily composed of ad valorem tax monies, motor vehicle tax monies, and back taxes. In order to be eligible for state aid, the Atchison Library must receive the same amount or more in these monies as it did the preceding year.
Although the Kansas Statutes do not require a library to include any non-tax monies in the city’s published budget, the auditors of the City of Atchison have recommended that the funds received from system grants and from state aid be included in the library budget.
E. Fund Outside the Regular Library Budget
Restricted Account: A restricted account has been established to track monies received in the form of grants, memorials, etc. Although the systems grant and state aid is included within the regular budget, the library often receives grants throughout the year which were not anticipated when the budget was being prepared. This account will allow the library to spend these monies without exceeding the budget and thus violating the “cash basis law” (K.S.A. 10-1113).
Although a tax exempt charitable foundation has been established by the library to receive general donations and memorials, many small memorials are given with the request that the library purchase “a book” for the library. These small memorials are tracked through this restricted account as well.
Petty Cash Account: A petty cash account has been established for the sole purpose of postage expense associated with interlibrary loan. Under no uncertain circumstances are checks to be written out of the petty cash account for an invoice/bill for the library.
F. Atchison Library Foundation
This Foundation was established to promote the continued growth and improvement of the Atchison Library by encouraged individuals and organizations to make financial contributions to the Atchison Library Foundation.
The Foundation makes available funds for materials or projects which contribute to the library’s progress. Funds are not generally approved for items which fall into the category of normal operating costs or facility upkeep.
The Atchison Library Foundation is a separate charitable organization which is not under the umbrella of the municipality. It has obtained a federal 501(c)3 status.
The City of Atchison will request from the library in May or June a library budget proposal. The budget should be approved by a quorum of the library board in an open meeting.
The budget will be based on the current and future needs of the library based upon its vision statement and strategic plan.
Prior to the filing of the proposed budget with the City, the governing body of the municipality shall met for the purposes of answering and hearing objections of taxpayers relating to the proposed budget and for the purpose of considering amendments to the proposed budget. The governing body must give as least ten days’ notice of time and place of the meeting by placing a notice in the local newspaper.
The public notice must set out all essential items in the proposed budget. The budget may remain the same or be lowered at this meeting, but not increased (K.S.A. 79-2929).
The hearing must be held not less than 10 days prior to the date on which the board shall certify its levy to the City (K.S.A. 79-2933).
B. Budget Allocations
If the Atchison Library is to be funded adequately, the Board should direct the allocation of budgeted funds in the following proportions:
Personnel 65 – 68%
Operations 15 – 20%
Resources 12 – 15%
C. Use of Funds
Once the budget is approved and filed with the city clerk the appropriation shall note be used for any other purpose. Expenditures may not exceed the published budget. Any balance remaining in the fund at the end of the current budget year shall be carried forward to the next budget year (K.S.A. 79-2935).
D. Source of Funds for Tax Budget
Although the total income of the Atchison Library is derived from a variety of sources, such as grants and memorials, the basic budget depends on tax income.
The library tax budget is funded with ad valorem tax levy funds, back taxes (delinquent funds), motor vehicle tax funds, and may also be funded from the general fund of the City budget.
For the most part, this library’s budget is primarily composed of ad valorem tax monies, motor vehicle tax monies, and back taxes. In order to be eligible for state aid, the Atchison Library must receive the same amount or more in these monies as it did the preceding year.
Although the Kansas Statutes do not require a library to include any non-tax monies in the city’s published budget, the auditors of the City of Atchison have recommended that the funds received from system grants and from state aid be included in the library budget.
E. Fund Outside the Regular Library Budget
Restricted Account: A restricted account has been established to track monies received in the form of grants, memorials, etc. Although the systems grant and state aid is included within the regular budget, the library often receives grants throughout the year which were not anticipated when the budget was being prepared. This account will allow the library to spend these monies without exceeding the budget and thus violating the “cash basis law” (K.S.A. 10-1113).
Although a tax exempt charitable foundation has been established by the library to receive general donations and memorials, many small memorials are given with the request that the library purchase “a book” for the library. These small memorials are tracked through this restricted account as well.
Petty Cash Account: A petty cash account has been established for the sole purpose of postage expense associated with interlibrary loan. Under no uncertain circumstances are checks to be written out of the petty cash account for an invoice/bill for the library.
F. Atchison Library Foundation
This Foundation was established to promote the continued growth and improvement of the Atchison Library by encouraged individuals and organizations to make financial contributions to the Atchison Library Foundation.
The Foundation makes available funds for materials or projects which contribute to the library’s progress. Funds are not generally approved for items which fall into the category of normal operating costs or facility upkeep.
The Atchison Library Foundation is a separate charitable organization which is not under the umbrella of the municipality. It has obtained a federal 501(c)3 status.
Approved by the Atchison Library Board of Trustees on April 22, 2002
