Interim Collection Development Officer University of Minnesota Libraries Minneapolis, Minnesota
Academic library collection budgets have suffered during the COVID-19 pandemic. Everyday collection development work requires careful adherence to the calendar to handle renewals and fund allocation processes. Staff must have awareness of offers and inflationary increases. They must continually evaluate subscriptions to uncover overlapping content, while also monitoring new trends and fields of study. Budget reductions introduce additional elements that make planning for and implementing a thoughtful, comprehensive process to address significant budget reductions extremely challenging. There are many factors at play! In a compressed timeline, collection development staff must examine and analyze: collection fund distributions and disciplinary needs and trends; cost increases (known and unknown); and the downstream impacts of cost saving ideas. The University of Minnesota Libraries created a framework that considers those factors in order to create a budget model that would allow for the implementation of 3% and 6% budget reductions. The presenters will discuss the Libraries’ framework that was based on their strategic plan. It allowed for both a mission and values-based approach using strategies and tactics to implement cancelations. The model also built in the development of a communication plan to ensure advocacy of the Libraries’ expertise as well as information for stakeholders to assist in meeting their information needs.
Upon completion, the participant will have a clear understanding of how mission and values can drive collection decisions.
Upon completion, the participant will know how to determine innovative methods for assessing usage data to inform decision making.
Upon completion, the participant will understand best practices for creating goals, strategies and tactics as part of a successful communications plan for stakeholders.
Upon completion, the participant will be able to list the key financial strategies for implementing a significant budget reduction.
Upon completion, the participant will be able to communicate the challenges involved in making fund allocations.