Disbursement Approval Policy
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All disbursements from library funds must be previously approved for expenditure within a budget approved by the library board of trustees. Invoice approval is delegated from the board to the library director and is linked to budgets allocated by agency. Each invoice requires approval by the Library Director or, as delegated, the Department Head or their designee prior to payment.
Budgeted disbursements to avoid late charges or interest, and for payroll, employee withholdings, benefits, materials, utilities and contractual arrangements are considered preapproved by the board and may be released by the Head of Finance and Budget.
The board assigns to the Treasurer, acting on its behalf, the approval of all disbursements released on a preapproved basis and all other pending invoices. All disbursements exclusive of payroll and employee withholdings will be presented in a report summarizing all invoices pending payment and invoices paid, supporting check listings attached. Employee net pay and withholding payments will be presented for review via summary payroll warrant.
The summary report listing disbursements reviewed and approved by the Treasurer will be included with the library financial reports accepted by the board.
Adopted: June 23, 2008.
Effective: June 23, 2008.