Budget+&+Financial+Management

The budget year is from July to July. The building principal communicates with the Teacher Librarian as to the amounts allocated for each account. Begin by creating an Excel spread sheet for each of the library accounts:
 * Books
 * Technology
 * Periodicals
 * Supplies
 * Equipment Repair
 * Student Activity


 * Example of spreadsheet:**

Make a hard copy spread sheet encompassing all accounts to track purchase orders, accounts and vendors, date ordered, date received, date closed and final amount paid. Utilize a file drawer specifically for purchase orders, hard copy of spread sheet, vendor lists, etc.

CIMS is used to create all purchase orders and to rectify all accounts. It is also used to create orders from the warehouse.

Ordering supplies for the library from the district warehouse is on an as-needed basis after confering with the Teacher Librarian. No approval from the principal is needed for warehouse supply orders, all other vendor orders require approval. Books, Technology, and Periodicals are ordered according to the library staff's collection development goals.

Once the purchase order (PO) is created give it the principal for approval. Once approved and the PO is printed the order should be faxed to the vendor, or if possible ordered online, note the date ordered on the PO. File numberically for easy tracking. When the product arrives not the date received on the PO and on the hard copy spread sheet. If it is a blanket purchase order, nothing more needs be done in CIMS. If line item PO the items must be "received" in CIMS. Note the receiver number on the PO. Accounts Payable will send the invoice to you via the district mail, if all merchandise has to be received, mark the invoice "OK to pay and close" with the amount to be paid, date and initial, make a copy and attach to the PO. Send the invoice to the accounts payable office for payment. Note the date the invoice was sent to accounts payable on the PO. Reconcile all accounts once a month, unless there has been no monies spent in a particular account. When a PO has been paid and closed, note the date and amount paid on the PO. Verify (V) the closed PO on the spreadsheet.

Book orders comsume the most time and planning. Try to have the major book order ready for order the first of July, this helps ensure that the majority of the books will arrive in time for the beginning of the school year. Also order databases at this time. Any technology/AV order item that is over $500.00 must first go through DTS for inventory purposes and to receive an audit tag with a district tracking number.

Periodicals are ordered in February, a list will arrive from the vendors listing your current subscriptions. Evaluate use and add or delete periodicals from the list.

All monies from Latte; school supply or other sales are deposited into the student activity account. It must be noted on the deposit that this income is taxable. Taxes are paid quarterly by the district accounting department, a slip will be sent listing all deposits and taxes paid.

In June all PO's must be closed and paid, and all accounts balanced. If there is an instance of a shortage in an account, money may be transfered from another account to cover the oversite. If there is no deficit in the district, any monies not spent will roll over to the next year. All Student Activity funds roll over automatically year to year. Print a hard copy of all spread sheets and file together with the year's purchase orders. Keep all records for seven years.

It is a good idea to purchase the majority of school supplies for the school store in the summer when the prices are so low. This way we are able to make a bit more profit while still giving the student a fair price.