Page 123 - DLIS003_LIBRARY ADMINISTRATION AND MANAGEMENT

Library Administration and Management Reena Kapoor, Lovely Professional University

Notes Unit 7: Budgeting

CONTENTS
Objectives

Introduction
7.1 Library Budgeting and Financial Planning

7.1.1 Purpose of Budgeting
7.2 Types of Budgeting
7.3 Budgetary Norms and Standards

7.4 Preparation of Library Budget
7.4.1 Schedule of Expenditure on Staff Salaries

7.4.2 Schedule of Expenditure on All Other Items
7.4.3 Contents of a Budget Document
7.5 Principles of Budget Making

7.5.1 Justifying the Budget Request
7.5.2 Approval of the Budget

7.5.3 Notification of the Budget to the Library
7.5.4 Budget Excess
7.6 Use of Funds and Financial Control

7.6.1 Allocation of Funds
7.6.2 Encumbering Funds

7.6.3 Financial Control
7.7 Summary
7.8 Keywords

7.9 Review Questions
7.10 Further Readings

Objectives

After studying this unit, you will be able to:
Define the meaning of budgeting and financial planning
Explain the different budgetary methods, budgetary standards, norms and principles
Describe the process of budget preparation, budgetary control, accounting and auditing

Explain the value of library budget which serves as an instrument of control

118 LOVELY PROFESSIONAL UNIVERSITY