LIBRARY FINANCIAL MANAGEMENT P.K.CHATTERJEE LAKE TRAVIS COMMUNITY LIBRARY.

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Presentation transcript:

LIBRARY FINANCIAL MANAGEMENT P.K.CHATTERJEE LAKE TRAVIS COMMUNITY LIBRARY

TOPICS PLANNING/BUDGETING EXPENSE MANAGEMENT FINANCIAL CONTROLS PAYMENT METHODS ACCOUNTING SYSTEMS INVESTMENT OF FUNDS

BUDGETING FORECASTING REVENUE – BASED ON TRENDS – ECONOMIC SCENARIO – SPECIAL CONSIDERATIONS – CONSULTING CITY OFFICIALS

BUDGETING FORECASTING EXPENSES ZERO-BASED TRENDS SPECIAL PROGRAMS / INITIATIVES BELT-TIGHTENING INFLATION STAFFING SALARY INCREASES

EXPENSE MANAGEMENT LINE ITEM CONTROL VS OVERALL CONTROL REVIEW FREQUENCY EVALUATE PURPOSE CONTINUALLY – MEASURE DISCRETIONARY ITEMS VOLUNTEERS OPERATING RESERVE CREDIT CARD EXPERTS

FINANCIAL CONTROLS TEXAS PROCUREMENT MANUAL CONTRACTS SEPARATION OF DUTIES EXPENSE AUTHORIZATION LIMITS

ACCOUNTING SYSTEMS MANUAL VS SYSTEM BALANCING CASH VS ACCRUAL 1099s REPORTS SYSTEM BACK-UP

INVESTMENT OF FUNDS PFIA PRESERVATION & SAFETY OF PRINCIPAL TEXPOOL / CDs / MMKT / TREASURIES MATURITIES / FUND AVAILABILITY LOCAL BANKS / CREDIT UNIONS FDIC INSURANCE: $250,000 (TILL 2013) DEPOSITORY AGREEMENT

RATES TEXPOOL 0.32% TEXPOOL PRIME 0.44% TREASURY 6 MONTH 0.28% TREASURY 12 MONTH 0.46% TREASURY 2 YEAR 1.02% MONEY MARKET 2.50% CD 2 YEAR 2.50% OUR CURRENT CDs 3.47% (MATURITY: 229 DAYS)