Abstract

Each library’s budget is unique; however, the importance of providing information about the budget is common across all libraries and is a critical factor in how the library is perceived by its constituents. The cost of e‐resources, balancing the collection, and optimizing a flat budget in an era of escalating costs are issues often misinterpreted by the campus community, leading to both misunderstandings and misinformation. Limited budgets, escalating prices, and new acquisitions strategies necessitate clear communication with librarians and faculty about the financial realities and complex decisions surrounding collection development.

One academic library used a two‐day workshop format to inform librarians about budget realities in order to provide financial transparency and minimize concerns about budget decisions. Library administrators at a large public university met with librarians to review and clarify funding sources, allocations, expenditures, deficits, high‐cost e‐resources, collection decision factors, and strategies for acquiring content. With a fuller understanding of the complexities of budget guidelines and limitations, librarians brainstormed solutions to real life collection development scenarios. Both an information‐sharing forum and professional development event, the workshop served to update, educate, and generate discussions for both veteran and new librarians.

Strategies described in this paper reflect a comprehensive public university perspective and are scalable and adaptable to other types of institutions.

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Money, Money, Money—Or Not! Budget Realities and Transparency in Collection Development Decision‐Making

Each library’s budget is unique; however, the importance of providing information about the budget is common across all libraries and is a critical factor in how the library is perceived by its constituents. The cost of e‐resources, balancing the collection, and optimizing a flat budget in an era of escalating costs are issues often misinterpreted by the campus community, leading to both misunderstandings and misinformation. Limited budgets, escalating prices, and new acquisitions strategies necessitate clear communication with librarians and faculty about the financial realities and complex decisions surrounding collection development.

One academic library used a two‐day workshop format to inform librarians about budget realities in order to provide financial transparency and minimize concerns about budget decisions. Library administrators at a large public university met with librarians to review and clarify funding sources, allocations, expenditures, deficits, high‐cost e‐resources, collection decision factors, and strategies for acquiring content. With a fuller understanding of the complexities of budget guidelines and limitations, librarians brainstormed solutions to real life collection development scenarios. Both an information‐sharing forum and professional development event, the workshop served to update, educate, and generate discussions for both veteran and new librarians.

Strategies described in this paper reflect a comprehensive public university perspective and are scalable and adaptable to other types of institutions.