Budget - Process and Timelines
- Administration begins drafting the budget during the summer for the following fiscal (calendar) year.
- The first draft of the budget is presented to the YRL Board Executive Committee in August. Administration makes any necessary changes and in early September the Executive Committee recommends that Trustees approve the budget at the November Board meeting.
- The draft budget is presented for information at the late September Board meeting allowing Trustees to share it with their sending authority. The draft budget is emailed to all stakeholders in late September as well.
- At the YRL Board organizational meeting in November, the Trustees approve the following year's budget. Prior to approval, Trustees may present any feedback from their sending authority.
- As per the YRL Master Membership Agreement, the YRL Board has the responsibility for approving the budget; 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 auditor presents the audited financial statements to Trustees for approval at the March Board meeting.
- Also at the March meeting, the YRL Board approves the auditor for the following fiscal year(s), if necessary.