The Library Fund is the Evanston Public Library’s general operating fund. It is the goal of the Evanston Public Library Board of Trustees to maintain no less than 4 months (33.3%) and no more than 6 months (50%) of anticipated operating expenses for the budget year in the Library Fund.
In the event that the forecasted balance based on a balanced budget is below the minimum level of 4 months (33.3%) of anticipated operating expenses for the budget year, the fund may be structured with a surplus budget in order to bring the reserves up to the minimum. In the event the forecasted balance is above the 6 months (50%) recommended maximum, the budget may be structured in a deficit, at the board’s discretion.
Capital Improvement Fund
The Library Capital Improvement Fund shall maintain a Fund Reserve level appropriate with current and upcoming capital requirements.
Adopted October 19, 2022