Trust & Agency (T&A)

Le Mars Public Library is funded largely by the City of Le Mars. Additional funding comes from Plymouth County, the State of Iowa, and various other sources. The Library Trust and Agency (T&A) account was established as a mechanism to accept memorial money, donations, and a variety of other resources to be used for library service enhancements.

Types of Funds
The types of funds handled by T&A might include:
  • Funds given in memory of deceased loved ones
  • Private donations from citizens or businesses
  • Small donations given by appreciative patrons for library services provided to them
  • State program funding
There are many occasions where the donations have been earmarked for specific expenditures, such as books or furniture. This money is then spent according to the donor’s request in a timely fashion.

The T&A account is maintained by the City of Le Mars and is held at First National Bank in Le Mars, Iowa. The city Financial Director prepares a monthly report of the deposits and any interest earned. This report is given to the Library Director who then passes it on, with other monthly financial reports, to the Library Board of Trustees at the monthly Library Board meeting. The T&A account is held and maintained for the sole purpose of improving library services to the community. The funds in this account are solely controlled by the Library Board of Trustees and Library Administration. The funds roll over from fiscal year to fiscal year and can accumulate with no cap on the amount that is held within the account. There is no deadline or fiscal year timeframe for spending the money. Any interest accrued is redirected into the fund. It is the responsibility of the Library Board of Trustees and Library Administration to spend the money (in part or in whole) in a conscientious and responsible manner. Traditionally, money is expended from the T&A account several times each fiscal year. There are several stipulations placed on the use of these funds. The stipulations are as follows:
  • The funds in the T&A account will not be used to pay library staff wages, library staff vacation/sick/holiday pay or to fund any staff retirement programs.
  • City Hall Administration/Staff do not have financial/spending access to T&A funds.
Services & Items
Over the years, this T&A account has helped to provide books, computers, programs, furniture, and much more. It is through the continued generosity of the community, through remembrances of loved ones or appreciation for services provided, as well as State of Iowa funding, that enable Le Mars Public Library to achieve goals large and small.

Policy Adoption
This policy was approved and adopted by the Library Board of Trustees on:
  • April 13, 2004
  • September 7, 2011