Policy on General Accounting Practices
The Saratoga Springs Public Library District’s fiscal year shall be July 1st to June 30th.
The Saratoga Springs Public Library District shall use the "Accrual Accounting Method".
The Saratoga Springs Public Library District’s files and finances will be audited annually by a qualified Certified Public Accountant (CPA).
The following are authorized to sign checks and transact business on behalf of the Saratoga Springs Public Library District:
- Vice President
- Library Director
Procedures for Ordering and Paying Bills:
- Bidding and purchasing laws and the library procurement policy must be adhered to.
- Only authorized personnel may place orders as specified in the Authorizations section below.
- All purchases must stay within the approved limits as set by the Board in the annual operating budget OR within a received grant.
- Only the Board of Trustees, by majority vote of those trustees attending a meeting, can secure a new or change an existing bank account,
credit card, or other financial tool.
- The Library Director is authorized to purchase anything needed for the library provided such expenditures are within the scope of the approved budget.
- The Account Clerk is permitted to purchase office supplies and office machinery as needed and to make repair calls as needed provided such expenditures are within the scope of the approved budget.
- The Adult Services, Youth Services, and Circulation and Technical Services Department Heads or their designees are authorized to purchase from book and A/V vendors and to make purchases to support library programming provided such expenditures are within the scope of the approved budget.
- The Operations Working Supervisor, or his designee, is authorized to purchase cleaning supplies and equipment, supplies needed for building repairs and service calls for library building and vehicle provided such expenditures are within the scope of the approved budget.
- The Computer Services Manager is authorized to purchase computer and network hardware and software necessary for library operations, and to make repair calls as need providing such expenditures are within the scope of the approved budget.
- The Human Resources Manager is authorized to purchase professional services such as those relating to labor law, background checks, and staff training, provided such expenditures are within the scope of the approved budget. Additionally, the Human Resources Manager is authorized to purchase supplies and refreshments for staff training and recognition events.
- The Director and Public Service Department Heads, or their designees, are authorized to use the library credit cards, with the exception of the gasoline credit card, which The Operations Working Supervisor, or his designee is authorized to use.
- Trustees are not authorized to make purchases with, or that encumber, library funds w/o prior board approval.
Credit Card Responsibility and Use Procedures:
- Bank credit cards are established in the name of the Saratoga Springs Public Library and the specific name of an individual with a maximum credit limit for each set by the Library. All monthly bank statements and correspondence will be sent to the Library.
- Bank credit cards will be issued to:
- Director with a credit limit of $5,000
- Head of Circulation and Technical Services with a credit limit of $5,000
- Head of Adult Services with a credit limit of $5,000
- Head of Youth Services with a credit limit of $5,000
- Prior to initial receipt of any credit card, eligible employees must complete and sign the Agreement for use of Bank Credit Card form stating that they understand and will comply with the Library’s Credit Card Responsibility and Use procedures.
- Expenses may be incurred with the credit card only if all of the following conditions are met:
- Expenditures must be within the guidelines of the particular activity of the approved budget. The card is not to be used for any personal expenses.
- Proper documentation to support the expenditure must be sent to the Account Clerk in the Administration Office prior to the receipt of the monthly statement.
Tax Exemption Certificates and letters are available in the Administration office or the staff webpage. The Library is an exempt unit of local government, and no sales tax should be charged on purchases made on the Library’s behalf.
Procedures for Paying Bills:
The Account Clerk opens the mail.
Bills are distributed to Director or Department Heads, as appropriate.
The Director, Department Head or his/or her designee matches the invoice with the packing slip.
The Director or Department Head approves each invoice and those with questions are put aside for further investigation and/or backup documentation.
The Account Clerk records each invoice in library’s accounting software, assigns a Chart of Accounts code and prepares an individual "voucher" slip for each invoice.
The Account Clerk uses the Library’s accounting software to cut checks.
The President of the Board of Trustees reviews each invoice and approves it for payment.
The Account Clerk prepares a report of all pending checks, including PO # and check number and includes it in the board packet for all Trustees.
The final version of these reports is to be included in the board packet along with the other monthly financial reports for acceptance by the board by specific action or as part of the consent agenda.
The Treasurer or another Trustee signs checks.
The report to the board listed above shall not delay the issuance of checks.
Checks are normally scheduled to be run to coincide with monthly board meetings. In the event that a particular payment is required prior to a board meeting, a smaller check run will be completed each month, normally corresponding with payroll cycles. In those instances, the Library Director will sign checks, and invoices will be approved by the Board President.
For credit card purchases, receipts or acknowledgements are printed at the time of purchase or as soon as possible thereafter, and submitted to the Account Clerk, who reconciles receipts with statements. Payment for credit card bills is handled as above.
Approved July 14, 2014