Operating Budget - FYE June 30, 2016

 

General Fund Budget Summary

REVENUES

Property Tax $8,069,000
Interest        6,000
Fines    126,000
Grants/Donations      90,000
Other      61,000
Total Revenues 8,427,000
   

EXPENDITURES

Salaries 4,107,000
Benefits      437,000
Training    80,000
Materials  1,108,500
Postage 12,000
Processing       31,500
Supplies     126,000
Vehicles     28,000
Computer Operations       447,000
Utilities     188,000
Telephone       26,000
Maintenance     163,000
Repair     131,000
Insurance       87,000
Professional Services       69,000
Improvements       253,000
Community Relations     158,000
Contingency     100,000
Debt Service     850,000
Capital Improvements       25,000
Total Expenditures  8,427,000
   
Rev Over (Under) Exp - General Fund $0

 

IMRF/SS Fund Budget Summary

REVENUES

Property Tax $570,038 
Replacement Tax
Total Revenues 570,038
   

EXPENDITURES

IMRF Contributions 444,139
Social Security 314,186
Total Expenditures 758,324
   
Rev Over (Under) Exp - IMRF /SS Fund ($188,286)

GRAND TOTAL EXPENDITURES

General Fund $8,427,000 
IMRF/SS Fund 758,324
Total Expenditures $9,185,324

 

 

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.)

 

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