The Library operates on a Fiscal year of May 1 through April 30. The Board of Library Trustees develops the budget each year in February and March. The Board of Trustees of the Village of Carol Stream includes the Library budget in their budget when it is presented in April. The Village Board does not have the power to alter the Library budget as presented.
The Village Board must also levy the property taxes for the Library. Public hearings are held in the fall of each year for property taxes collected the following summer. Property taxes comprise approximately 95% of the Library’s revenue.