Introduction to the Libraries Collection Budget Process

1
Introduction to the Libraries Collection Budget
Process

• Tony Harvell
• August 1, 2007

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Budget Time line

• Previous year fiscal close end of June
• Carry-forwards for monos input August
• Base mono allocations added early September
• Continuation appropriations and mono increases to
  base (if any) October

3
Where the money came from in FY 06/07

• Base Collections Budget 7,792,672
• Workload Increase funds, Opportunity Funds,
  Indirect Cost Recovery funds 481,600
• Geisel Endowment for Collections 288,000
• Supplements from School of Medicine, School of
  Pharmacy, and Rady School 175,000

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How the appropriations are determined

• Monographs
• Your yearly allocation PLUS carry forward PLUS
  any increases to base allocation
• Serials
• The previous year expenditure PLUS projected
  price increase
• Digital fund
• The previous years expenditures PLUS projected
  price increase PLUS new funds from increases to
  base

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Ebsco Serial Price Projections for 2007
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Digital fund

• Was established around 1997
• Was intended to cover library wide resources
• In FY 97/98 digital continuations 57,926
• In FY 06/07 digital continuations
  1,030,271.20

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Growth in Digital Continuations since 1997
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How the Collections Budget was spent in FY 06/07

• Non-continuations 1.8 M (22 of total)
• Continuations 5 M (62 of total)
• Digital Continuations 1.2 M (14 of total)
• Digital One-time 132K (2)
• Miscellaneous (Course Reserves, Tricor, TOC
  services, Tools, CCC) 200K (2)
• TOTAL (excluding endowments) ca. 8. 5 M
• 36 of total budget is CDL co-invest, 51 of
  continuations budget is CDL coninvest

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Expenditures by payment type
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FY 06/07 Projected vs. Expended
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Expenditure increases FY 05/06 to FY 06/07
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Interpreting your Library report

• Access at http//roger.ucsd.edu/manage
• Select Fund Reports login with your III
  login
• Easiest to view your Library Accounting Report
  (Reconciling Report uses external codes and
  includes deposit accounts)
• State funds are reported first by payment type
• Non-continuations (monos, BPs)
• Continuations (MSTOs, SSTOs, Subs)
• Misc. funds (prepays, tools, copy 2s, taxes)
• Endowments listed separately in most cases

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Millennium reports are in real time but

• Posting is done several times per week - Mono
  balances change often
• Serial expenditures change only upon invoice
  payment or CDL recharge posting - these occur
  throughout the year
• EBSCO electronic invoice loaded in January,
  though we have prepaid for discount (balances may
  reflect pre-payment)
• Swets and Harrassowitz e-invoices loaded
  throughout the year (again, they are prepaid so
  balances may reflect prepayment)
• Credit memos, rate adjustments, refunds, new
  titles affect balances throughout the year

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Foundation funds

• Foundation funds include endowments and gifts
• Endowments continue to produce income
  indefinitely or until a specified date or other
  marker
• Gifts are a one-time supplement that are
  non-income-producing
• Well focus on endowments

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How much?

• Approximate total endowment funds that are
  allocated specifically to Collections annually is
  450,000
• Amount varies from year to year. University
  External Relations Office averages the interest
  over a 5-year period to avoid large fluctuations
  in annual income.

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What kind?

• Multiple and overlapping categories.
• National Endowment for the Humanities (NEH)
  matching grant funds
• Restricted vs. Unrestricted Funds

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Breakdown of Endowments
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NEH Endowment Breakdown
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Other restricted and non-restricted funds

• Restricted funds are those that have specific
  purposes within their use for Collections
• There are very few non-restricted funds
• Friends of the Libraries Acquisitions funds
• (30,000)
• Neha and Melvin Voigt Collections Endowment
• (insufficient income at this time to draw from)

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The process

• Request, through the Collection Coordinators for
  funds for specific purchases or
• for support for emerging Collections needs that
  could not be funded from your existing allocation
• Include justification, pricing, local and UC
  availability, and additional costs associated
  with acquiring resource (cabinets, specialized
  cataloging)
• The goal ideally is to spend that allocation
  within one year. If unable to do so, indicate
  why.

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What CCG will do

• Coordinator brings the request to CCG for
  consideration
• Once approved, requests to be sent to Friends of
  the Library Acquisitions Committee are identified
• For others that are approved, Library Collections
  Fiscal Management (LCFM) team works with AUL for
  Collection Services to identify appropriate
  Endowment funds based on scope and funding
  availability

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Follow up and reporting

• LCFM will track expenditure
• If endowment funds are not spent within a given
  time frame, can they be reallocated?
• Expenditures reported to Library Development team
  and University External Relations
• Donors need to be apprised of the use of their
  funds and acknowledged for their significant
  contributions
• The University needs to ensure the appropriate
  stewardship of these funds