Expenditure Approval and Review Policy

Purpose

The purpose of the Expenditure Approval and Review Policy is to ensure that all financial transactions of the Ogdensburg Public Library (OPL) comply with applicable laws, policies, and procedures. This process verifies that claims (invoices, purchase orders, and other financial obligations) are valid, accurate, and properly authorized before payment.

Article 1 –  Authority & Compliance

This process follows New York State laws and regulations, including:

1.1 Education Law §259 (Library Funding)

1.2 General Municipal Law §103 (Procurement)

1.3 General Municipal Law §104-b (Purchasing Policies)

1.4 Comptroller’s Guidance on Claims Auditing

Article 2 – Responsibilities

2.1 Board of Trustees

2.1a. Designates the Finance Committee to the following:

  • Reviews all claims for compliance, accuracy, and authorization.
  • Ensures appropriate documentation supports each claim.
  • Report any discrepancies or concerns to the Board of Trustees.

2.1b. Reviews payments at board meetings.

2.1c. Ensures policies are updated and followed.

  • Library Director

2.2a. Approves purchases within budgetary and policy limits.

2.2b. Ensures that proper documentation is submitted for review

2.3 Library Account Clerk

2.3a. Prepares payments only after claims are reviewed and approved by Board of Trustees.

2.3b. Maintains financial records for audit/review and reporting purposes.

Article 3 – Submission & Review Process

Step 3.1: Receive and Review

The Library Director or designee receives and verifies that packages/goods/services and matches them with packing slips, then initials and dates the packing slip.

Step 3 2: Claims Preparation

  • The Library Director prepares a claim package, including:
  • Vendor invoice
  • Purchase order (if applicable)
  • Packing slip/receipt (if applicable) initialed and dated.
  • Any required approvals
  • Claim package is submitted for review and approval.

Step 3.3: Claims Audit

  • Finance Committee or their designee reviews each claim for:
  • Accuracy (correct amount, vendor, and description of goods/services)
  • Proper authorization (approved by the Director or other designated official)
  • Compliance with procurement policies
  • Proper supporting documentation
  • If discrepancies exist, the claim is returned for correction.

Step 3.4: Approval & Payment Processing

  • The Finance Committee or their designee signs off on approved claims.
  • The Board of Trustees reviews approves claims at the next board meeting.

Article 4 – Special Considerations

4.1 Recurring Expenses: Utilities and insurance premiums may be pre-approved and paid before Board approval.

4.2 Emergency Purchases: Must follow emergency procurement rules and be documented.

4.3 Conflict of Interest: Trustees and staff must disclose any conflicts and abstain from related approvals.

4.4 Payroll records/reports will be reviewed monthly

Article 5 –  Recordkeeping & Reporting

5.1 Maintain audited claims for at least six years as per NYS retention requirements.

5.2 Periodic review of expenditures against the budget.

5.3 External audit or review done annually

Article 6 – Review & Updates

This process shall be reviewed annually by the Board of Trustees and updated as needed to comply with state regulations and best practices.

Adopted by the Board of Trustees on July 2, 2025