Budget - Process and Timelines
- Administration begins drafting the budget during the summer for the following fiscal (calendar) year.
- The draft budget is presented to the YRL Board Executive Committee at the first meeting in September. Administration makes any necessary changes and, at the second meeting in September, the YRL Board Executive Committee recommends approval of the draft budget to the YRL Board.
- The draft budget is distributed to all stakeholders by September 30 each year. Trustees can take it back to their sending jurisdiction to present for information purposes.
- At the November YRL Board organizational meeting, the Board approves the budget for the following fiscal year. Prior to approval, Trustees may present any feedback they received from their sending jurisdiction.
- Under the terms of the YRL Master Membership Agreement, the YRL Board has the responsibility for approving the budget. Consequently, when Trustees vote on the budget, they are acting in their capacity as a Trustee of Yellowhead Regional Library.
Audited Financial Statements - Process and Timelines
- A complete financial audit is performed in February of each year by an auditor appointed by the YRL Board.
- The auditors present the audit for approval at the March YRL Board meeting.
- If required, the YRL Board approves the auditor for the next fiscal year at the March meeting.