Operating Reserve Policy

At a minimum, the Operating Reserve balance of the Scarborough Public Library Corporation shall be one twelfth of the current Library budget. This will provide sufficient cushion to pay one month of Library operating expenses, in the event of an unforeseen emergency. The Board shall review the adequacy of the amount of unrestricted fund balance at least annually.

Replaces Unrestricted Fund Balance Policy 2/15/96


Approved March 15, 2001, Amended 6/21/2018