Operating Budget 2013-2014

GENERAL FUND

Revenue  
Property Tax 7,492,304
Interest        5,000
Fines    141,000
Grants/Donations      65,000
Replacement Tax      45,000
Other      53,640
Total 7,801,944
   

EXPENDITURES

Salaries 3,849,000
Training      62,500
Benefits    441,344
Materials/Periodicals  1,107,500
Processing       36,000
Supplies     107,000
Computer Operations     397,000
Vehicle Operations       40,000
Utilities     182,300
Telephone       28,300
Postage       14,000
Maintenance     129,500
Repair     113,700
Insurance       56,000
Prof. Services       62,200
Improvements       77,800
Contingencies     100,000
Community Relations     122,800
Debt Services     850,000
Capital Imp. Projects       25,000
Rent                0

TOTAL

 7,801,944
(surplus)                0
IMRF/SS Fund Income     750,822
IMRF/SS Expenditure     738,595

GRAND TOTAL

 8,540,538

 

 

Budget, Appropriation and Levy Policy

The Budget, Appropriation and Levy process is governed by Illinois Statutes that are subject to change. Therefore, it is advisable to seek the advice of legal counsel when preparing budget documents and fulfilling requirements for publication, hearings and filing. The Library Board may, at its discretion, utilize a Committee to review budget documents prior to final Board approval. The following timeline provides general guidance regarding the budget and appropriation cycle.

The Library Director and appropriate Staff will generally prepare a tentative operating budget for all library funds in April for the following fiscal year. This budget normally will be adopted at the regular meeting of the Board in May or June.

The Library Director and appropriate Staff will generally prepare a tentative Budget and Appropriation Ordinance in a timely fashion so that it may be posted and notice provided prior to public hearing held by the Library Board in accordance with legal requirements. Generally, this hearing will be held in July or August.

The Board of Trustees will normally review, revise and adopt the Budget and Appropriations Ordinance in August. The ordinance shall be posted, published, adopted and filed in accordance with legal requirements. Subsequent changes in the appropriations can be made according to procedures outlined in Illinois Statutes.

The Library Director and appropriate Staff will prepare a tentative Levy Ordinance in a timely fashion in adherence with legal requirements. The Board will normally enact the Levy Ordinance in November. The Levy Ordinance will be adopted and filed with the County Clerk of Lake County in accordance with legal requirements.

(Additional information can be found in relevant Illinois Statutes such as 75 ILCS 16/30-85 and 75 ILCS 16/30-90.)

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Date

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Secretary

Adopted: 10/19/76

Revised: 7/18/95

Revised: 2/17/98

Revised: 3/20/01

Revised: 1/20/04

Revised: 3/20/07

Revised: 5/20/08