Abstract
In this preconference workshop Bailey and Creibaum gave attendees detailed instruction on how to create a spreadsheet‐based library collection development allocation formula, one option to manage a library’s collection development budget. The presenters demonstrated and led participants through the process of creating customizable Excel‐based formulas that can be modified to utilize the criteria relevant to a specific library and institution. The primary element in the success of such a formula is the use of weights applied to each factor contained in the spreadsheet. Potential factors include the number of students majoring in a degree program, total faculty per department, departmental credit hour production, the number of courses offered, and the average costs of books and journals in a discipline. By carefully assigning weights to each factor, the output of the formula results in an equitable allocation of funds to each subject area.
Developing a Weighted Collection Development Allocation Formula
In this preconference workshop Bailey and Creibaum gave attendees detailed instruction on how to create a spreadsheet‐based library collection development allocation formula, one option to manage a library’s collection development budget. The presenters demonstrated and led participants through the process of creating customizable Excel‐based formulas that can be modified to utilize the criteria relevant to a specific library and institution. The primary element in the success of such a formula is the use of weights applied to each factor contained in the spreadsheet. Potential factors include the number of students majoring in a degree program, total faculty per department, departmental credit hour production, the number of courses offered, and the average costs of books and journals in a discipline. By carefully assigning weights to each factor, the output of the formula results in an equitable allocation of funds to each subject area.