Abstract
In this preconference workshop Bailey, Creibaum, and Holloway presented detailed instructions 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 easily 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 graduating from each 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, Creibaum, and Holloway presented detailed instructions 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 easily 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 graduating from each 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.