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Urbana trustees review Illinois finance-and-budget standard and are told library lacks a long-term financial plan
Summary
A staff presenter reviewed the Illinois Public Library finance-and-budget standard and told trustees the library meets several core requirements but does not currently meet the standard calling for a long-term financial plan; trustees were told there is no statutory deadline and staff were directed to use state templates and city finance resources to begin a plan.
A staff presenter addressed the Urbana Free Library Board on the Illinois Public Library Standards' finance-and-budget section and walked trustees through core standards the board and administration meet and areas requiring work.
The presenter said the library meets core requirements such as maintaining a written board‑approved budget, keeping current accounting of revenues and expenditures, reviewing monthly expenditures, having internal controls and conducting audits when applicable. She said the standards underpin eligibility for per-capita grant reporting and help libraries…
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