Finances

Budget Process and Timelines
  • The YRL Board Executive Committee discusses the following fiscal (calendar) year’s budget direction In the spring and reviews the first budget draft in August.
  • In September, the Executive Committee once again reviews the draft budget before making a recommendation that the YRL Board approve the budget at the last meeting of the year.
    • The draft budget is presented for information to the YRL Board in October so Trustees can discuss it with their sending authority. In addition, the draft budget is distributed to all stakeholders at the same time.
  • During the YRL Board organizational meeting In December, YRL Trustees have an opportunity to present any feedback from their sending authority prior to approving the following year’s budget.
    • As per the YRL Master Membership Agreement, the YRL Board has the responsibility for approving the budget; therefore, when the YRL Board votes on the budget, individuals are acting in their capacity as a Trustee of Yellowhead Regional Library.

2020 Budget with 2021-2022 Projections

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.

2019 Audited Financial Statements