- The Director shall establish internal controls for the Library’s financial handling system.
- The Camrose Public Library’s financial records will be prepared for an approved review within 90 days after the end of the fiscal year.
- The Library Board will appoint an auditor annually, to be approved by the City of Camrose.
- The Board has the authority to approve the financial review.
- The fiscal year of the Camrose Public Library shall be January 1 to December 31.
Petty Cash and Cash Register
- The Camrose Public Library will maintain a petty cash fund of $500 to be managed by the Manager or designate. The fund is to be used for making immediate payments when:
- It is impractical to issue a cheque in a small amount
- A patron, staff member, or board member requires immediate payment for small amounts
- Under no circumstances will the petty cash fund be used to cash cheques or for I.O.U’s, loans, or advances
- The cash register float of $120.00 shall be kept and administered by the Manager or designate.
- The signing officers shall be the Director, the Board Chair, and the Vice Chair. The signing officers shall be appointed by a motion of the Board.
- Corporate Credit Cards will be used by the Director, Manager, and designated staff with an overall library credit card limit of $20,000.
- Credit cards will be surrendered upon the employee leaving the Library’s employment.
- Receipts for expenses will be submitted to the Manager as soon as possible after the expense has occurred.
- Personal use of the credit card is prohibited.
- An agreement outlining the above conditions will be signed by the staff members upon receipt of the credit cards.
- The spending limit is within the confines of the budget. Any purchase over $10,000 will require three quotes.
Approval Date: January 25, 2000
Amended: March 12, 2002; January 14, 2003; October 5, 2006; May 20 2008; October 18, 20011; February 21, 2012, November 2014, February 2015, November 2017
Revision/Review Date: November 2020
Approval Signature: ____Elizabeth Luck___________________________________________
Camrose Public Library Board Chair