It is the policy of the Clearview Library District to ensure responsible and transparent management of financial resources through structured budgeting, reporting, and oversight processes.
Purpose and Authority
The Director and Board of Trustees are responsible for overseeing the financial health of the District. The Board ensures that funds are managed ethically, transparently, and in compliance with applicable local and state regulations.
Budget Development
The Library Director will prepare a draft annual budget in coordination with District staff, including Department Heads and the Financial Administrator. Budget development will begin several months before the end of the fiscal year to ensure compliance with the Colorado Local Government Budget Law (C.R.S. 29-1-101 et seq.).
Budgets will reflect the District's operational needs, strategic goals, and expected revenue. A proposed budget will be submitted to the Board (C.R.S. 29-1-105) and made available to the public, with notice provided online and in print (C.R.S. 29-1-106(1)). Once approved, the budget will be submitted to the Department of Local Affairs (DOLA) by January 31, in accordance with C.R.S. 29-1-113 (1).
Revenue and Reserve Policies
The primary source of funding for the District is property tax revenue. Revenue is also generated through state and federal grants, as well as private donations, which can be made directly to the District or through the Clearview Library Friends and Foundation.
The District will strive to maintain the following reserve funds:
- Operating reserves of no less than six months of budgeted operating expenditures.
- Any other reserves as required by the Taxpayers Bill of Rights (TABOR) or state/local mandates.
- Long-term planning (to meet our debt service or for future investment)
- Capital building repair and replacement of no less than 10% of the audited gross capital asset value for the district.
Budget Revisions
When anticipated expenditures may exceed the annual appropriation, budget revisions may take place as proposed by the library director. The revision process will follow the same process and requirements as listed in Budget Development.
Reporting
Monthly financial statements comparing actual expenditures to the approved budget will be presented to the Board. Financial statements will be made public and will be posted online on The District website.
Budget Calendar
The District maintains a budget calendar in compliance with state and local laws and follows a fiscal year that runs from January 1 to December 31. Public notice for the upcoming budget is provided by October 15th each year. The budget is approved by the Board by December 31 and filed with the State by January 31 of the new year.
Approved October 30, 2025.