Budget and Finance
Core Standard
Given the following resources are available to the candidate:
- Library’s vision, mission, and strategic plan.
- Current operations and capital budgets.
- The programs and services the library is expected to provide.
- A history of past financial requirements.
The candidate is expected to:
- Develop program budgets.
- Conduct operational budgets.
- Develop capital budgets.
- Conduct cost/benefit analyses.
- Work with accounting personnel.
The criteria to judge the adequacy of the performances are:
- Budgets and cost/benefit reports comply with standard accounting principles.
Learning Objectives:
- Describe the relationship between budgeting and overall planning for the organization’s goals and objectives.
- Develop a program budget based on a line-item budget (convert a line-item budget to a program budget).
- Perform cost benefit analysis for specific library services.
- Develop performance measures and operations indicators for specific library functions.
- Identify and evaluate the feasibility of using various potential sources of funding for a major capital project.
- Present a program budget or a capital budget and financing plan to the library’s governing authority or general government administrator.
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