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Library Collection Budget Assessment

Details on Arthur Lakes Library collection budget.

The Rising Cost of Subscription Resources

Each year, Arthur Lakes Library negotiates with publishers and vendors to provide access to the databases and journals that advance Colorado School of Mines world-changing research and transformative instruction. Unfortunately, the cost of these resources rises by 4-8% annually, far outpacing the rate of inflation and the realistic constraints of university budgets. When we negotiate with publishers, we seek contracts that are affordable, sustainable, and transparent, but sometimes publishers insist on significant increases that far exceed available funding. Mines is not alone in challenging these unsustainable increases- academic libraries of all sizes across the nation face the same reality.

Supporting New Programs & Resources @ Mines

It is a goal of the Arthur Lakes Library to provide the necessary resources to students, faculty, and staff to support education and research. While not all resources may be available due to cost and/or licensing we'll try to get the resources our community needs. 

How does the library’s materials budget compare to that of other institutions?

Answer: Comparative 2017-18 Materials Budget Data For Our IPEDS Peer Institutions

Institution Name FTE Total Per Student
 
California Institute of Technology 2,233 $3,175,554 $1,422
Massachusetts Institute of Technology 11,276 $11,407,017 $1,012
New Mexico Institute of Mining and Technology 1,655 $1,293,500 $782
Michigan Technological University 6,641 $3,129,787 $471
Worcester Polytechnic Institute 6,127 $2,672,360 $436
Georgia Institute of Technology-Main Campus 27,894 $8,992,424 $322
Rensselaer Polytechnic Institute 7,989 $2,463,255 $308
Colorado School of Mines 6,085 $1,778,755 $292
Missouri University of Science and Technology 7,357 $1,582,849 $215
South Dakota School of Mines and Technology 2,313 $455,083 $197
New Jersey Institute of Technology 9,041 $1,595,778 $177

Do you have any other general data on historical materials infaltion?

Answer: Yes. Library materials inflation is a broadly recognized challenge in academia. See full chart

Five Year Journal Price Increase History (2017-2021) Chart

 

The following chart from the Association of Research Libraries (ARL) provides visual evidence of the annual price pressures for both monographs (books) and serials (journals) between 1998-2018

ARL's serials price increases