Funding the Library
Money Matters
The Board is responsible for ensuring that there are adequate funds for all operations of the library. This vital function requires that Board members:
understand library funding laws
have a knowledge of funding sources
develop a working relationship with the appropriate governing body
be willing to seek prospective funding sources for the library
ask other libraries how they meet their funding needs
explore ways of sharing resources with other libraries
explore community resources
be innovative
Sound financial management by the Board of trustees is crucial to ensure ongoing library services for the community. To prepare a budget, you need to know where the funds come from and how much revenue you can expect each year. In Montana, public library funding comes from local, state and federal sources. Private funding sources are also important.