ABC Public Library is located in Dekalb, Illinois.  ABC public library has its taxable entity with an elected 7-member board. Each Board member is on for four years on the Library Board. ABC Public Library recently issued a 20 million dollar Bond to support an addition to the existing Library.  This is a 50,000 sq foot addition. In addition, they will hire four new positions at the Library.

Since the Funds Budget is prepared before the fiscal year begins, they are completed by Oct 20xx, The fiscal Year starts on Jan 01, 20xx.  

The operating Budget is only for current resources and not long-term capital Acquisition.

What might be their thoughts on this approach?

Answer rating: 100% (QA)

Based on the information provided it seems like ABC Public Library has taken a proactive approach to ... View the full answer