Financial Polices
Financial Transactions
(Adopted 5/2014, revised 2/2025)
The Library will handle funds in the following manner:
Collection & Deposit of Funds
Funds are collected at the Library for payment of fines, fees, used book purchases and donations. Cash, coin or checks and credit cards are accepted. Receipts are offered to patrons for all payments.
Cash & check deposits are made to designated Library bank accounts by the Business Office on a monthly basis, or more frequently if additional deposits are necessary. Credit card payments, less associated processing fees, are automatically deposited into the Library’s bank account within 2-3 business days through the Square Point of Sale (POS) system. These deposits are reconciled against transaction reports provided by Square to ensure all net proceeds have been received by the Library.
Daily Cash Receipts
The Library utilizes the Square POS system with a connected cash drawer as the repository for daily financial transactions such as overdue fines, used book sales and other transactions related to service activities. Fines are set by the Board of Trustees.
Copier and printer fees are collected using JAMEX collection systems designed to work in conjunction with this equipment. These funds are counted and deposited monthly, or more frequently, if necessary.
Program fees are collected by the staff member completing the registration at the Circulation Desk and are processed in the Square POS system. Only credit card payments for programs may be processed at the Reference Desk by the staff member completing the registration. No cash payments of any kind will be received at any location other than the Circulation Desk. As with all other funds, program funds are processed on a daily basis by Circulation and Business Office staff and are reconciled and deposited as appropriate.
Funds collected in the Library’s Square POS system’s cash drawer are counted daily, reconciled with the receipt tapes and deposited monthly or more frequently if necessary. All funds are counted and by three Library employees.
Check Management
Checks received by the Library, whether hand-delivered or by mail, are stamped “For Deposit Only”, or with the bank-provided stamp, and placed into the Square POS system’s cash drawer, in a secured location, or given to the Business Office for deposit.
All checks written as donations to the Library given to the Business Office for recording into the Library’s donation record and are deposited into the Library’s Gift Account.
Assurances
The Library’s independent Treasurer, as a part of their monthly review of all financial and bank statements, will check all records of cash, coin, checks and credit cards to ensure all funds have been appropriately documented, recorded and deposited into one of the Library’s bank accounts.