Page 153 - DLIS003_LIBRARY ADMINISTRATION AND MANAGEMENT

Library Administration and Management

Notes
Inventory
Explain how you keep your inventory, assign inventory numbers, delete and
add items, or transfer location of assets where applicable, etc.
Payroll
Explain your payroll process, how times/hours worked by employees are
recorded on time sheets or timecards, what the approval process is, any special
procedures for requesting and approving adjustments from scheduled times/
hours such as employee leaves, what the process is once the records are received
by the fiscal officer all the way through to the distribution of checks for wages,
deductions, taxes, etc.
Internal control
Explain how each of the above areas is safeguarded from errors and misconduct.
Investments

Keep a file folder on all depository and repurchase agreements as well as a folder on
pledged collateral or statements representing the pool of securities.
Keep all Certificates of Deposit (CDs) in a secure safe place with copies of the CDs at the
library to prove their existence and for reference purposes.
Make sure your investment ledger reflects account numbers, interest rate, and length of
time to maturity of each investment.
Bank Reconciliations
Keep all bank statements and bank reconciliations in chronological order.

Keep all cancelled checks in numerical order. Include any voided checks in the
numerical order, making sure voided checks have the signature area cut out.
Keep all duplicate deposit slips in chronological order.

Have outstanding check lists available and see that they include the check number,
date, and amount.
For better internal control, if staffing time and ability allows, have a different staff
member reconcile the bank statement several times a year and sign the
reconciliation.

If the bank statement includes any unusual item, a description of the item should be
included on the reconciliation.
Other Items to Have Ready for the Auditor

Documentation for receipts (daily tally sheets or cash register tapes).
Bonds and insurance coverage documentation.
Information on lawsuits pending or settled during the audit period.
Annual Budget, Certificates of Estimated Resources, and Certificates of county auditor
that the Appropriation Does Not Exceed the Official Estimate of Balances and
Revenues.

Annual financial report to Auditor of State and monthly financial reports to the
board of library trustees.
Contd...

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