Date: November 7, 2005
To: RCPL Board of Trustees
From: Greta Chapman
Re: Board Funds update
Since making the
determination to move the library’s auxiliary funds to the city, progress is being
made on completing that process. Many
steps are complete; others are in progress, and some will be completed with a
link to the city’s accounting system.
Some of the items for this
transition that have been completed include:
- Establishment of a petty cash amount
- Determination of a change fund – cash register,
coin-op, and change machine amounts
- Establishment of fund codes for miscellaneous
revenue sources
- Transfer of former auxiliary funds to the Board
Fund
Still to be finalized:
- Creation of a Board Funds Budget, to be presented
to the Board in December for their approval – this will outline
expenditures for these funds for 2006
- Monthly Board reports generated from the city’s
accounting system – this is projected to be in place for the December meeting
- Access to the city’s accounting system
In addition, we are working
with the Finance Office’s request to have a separate reconciliation for
revenues received; that is, a separate confirmation for the cash register tape
showing fines collected, non-resident cards paid, etc. The Aleph system may at some point be able to run a report to confirm these amounts; however,
to date the reports have not been accurate, and an interim measure must be
determined.