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Interest Income Policy

It is the policy of Schaumburg Township District Library that all interest income received in the Special Reserve and Working Cash Funds will be recorded in the General Fund on the financial statements.

The Policy Statement for The Recording of Interest Income from December 21, 2009 is superseded and incorporated into Revenue Policy Statement 2.4 adopted April 21, 2014 under Section 5, Investment Income. The language in regards to interest income remains the same.

Approved by the Schaumburg Township District Library Board of Trustees, April 20, 2020.