Objective

The purpose of this policy is to establish a financial accountability framework for the library.

Policy Statement and Details

The Library Board has, subject to the approved budget, exclusive control over the expenditure of:

All money provided by the Council for library purposes;
All money given to the Library Board;
The revenue derived from any source, including fees, fines, and money recovered by the Library Board for detention, damage or loss of library materials.

The Library Board must provide to the City annual financial statements that have been audited in the same manner as the financial statements of the City of Burnaby.

Record Keeping

It is the duty of the Library Board to undertake record keeping duties by retaining all records in accordance with the legal requirements of Federal and Provincial statutes.

Accounting/Finance Policies

With regard to accounting and finance policies, Burnaby Public Library complies with those set out by the City of Burnaby.

Last reviewed 2019-12-12

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