Finance

Finance Policy

  1. Bank debit cards will be established in the name of the Ulster County Library Association and the specific name of an individual with a maximum credit limit for each set by the Association. All monthly bank statements and correspondence will be sent to the Ulster County Library Association. Expenses will be listed on the warrant list for approval by the membership.
  2. Bank debit cards will be issued to: The Treasurer with a pre-approved spending limit up to $250.00. Purchase over that amount will need approval by executive board.
  3. Bank debit cards will be used primarily for supplies, website expenses, and technology.The bank debit card may not be used for personal expenses.
  4. Any purchases made directly through PayPal will adhere to this policy.

Approved: March 16, 2021

Finance Procedure

  • The treasurer will submit invoices and transactions to the bookkeeper. Voucher forms and transaction forms are to be attached to supporting documentation. Voucher forms must be signed by a member of the UCLA board.
  • The treasurer will prepare a report for the UCLA that matches the current bank statements, demonstrates income & expenses, identifies what database monies have been allocated and provides a warrant list of upcoming expenses for UCLA approval. 
  • The bookkeeper will balance the books, pay invoices, and prepare reports as requested by the treasurer. The treasurer will send copies of the latest bank statements to a member of the executive board other than the treasurer to verify against the other reports.
  • This board member will then report back to the membership at meetings. The executive board will do an internal audit annually.