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Library Collection Budget Assessment
Details on Arthur Lakes Library collection budget.
FY 2018-19 current Library materials budget is $1,933,399
Projections for FY 2019-20 inflation of serials (which accounts for 92.16% of overall materials budget) are 7.64%
Calculated based on actual renewal costs
Whenever possible we participate in consortia deals as well as multi-year contracts to limit costs & inflation
The Library requested a 7.64% inflation factor for serials FY 2019-20 of $136,131
Also requested $12,970 in new funds to support two new subscriptions:
Mintel Academic Database = to support Economics and Business as well as Entrepreneurship & Innovation.
Nature Physics Journal = to address consistent faculty and student requests for this title, high turnaways, and ILL requests exceed copyright limits.
The budget approved for FY 20 only increases the library material's serials budget by 3.82% with no increase for one-time purchases (books, backfiles, etc.) and no funds for new subscriptions for FY 2019-20
Resulting in a $2,001,464 total for FY20
The Library will need to cancel at least $68,065 in existing subscriptions to cover its loss of buying power.
Below is a downloadable spreadsheet listing possible serials titles to cancel.