Activity 11: Financial Oversight

This activity is for prompting discussion about best practices in board financial oversight.

For some of the below, depending on the public library, there are overlapping board trustee and library director responsibilities, such as in developing the annual budget. Discuss the importance of role clarity and what role clarity may look like for overlapping  responsibilities.


Secures adequate funds to carry out the library’s programs and services

Approves the budget and presents budget to council for grant funding

Approves the funds for new facilities or technology

Prepares regular financial

Establishes financial policy

Maintains an audit trail with accurate record keeping and reporting

Ensures an annual financial audit
and public report

Develops procedures for facility and technology expenditures

Implements board policy

Manages the operational budget