Budgets

Introductions


Budgets freak me out because they involve math. I have terrible math anxiety and the idea of managing any sort of money, whether its mine or someone else's, fills me with fear. I found the chapter from The Accidental Library Manager to be especially helpful. It was like it was written just for me because it recommended texts for people with math phobias. After reading everything for this section, I'm still filled with fear when faced with a budget, but I feel like with enough leeway I could do it.

I filled this section with as much information as possible just in case I'm faced with a budget in the future. Hopefully, having so many different resources will help keep me calm.




Textbook Chapter:


1. Gordon, Rachel Singer. 2005. The Accidental Library Manager. Medford, New Jersey: Information Today, Inc. 203-227. Gordon explains some of the money issues which one may need to deal with in a library and how this affects the position of a manager. It is mostly meant to teach us some of the jargon associated with finances. The author also recommends some texts which would be helpful to people with math phobias (like me) at the beginning of this chapter, so that you can brush up on your math skills.

2. Stueart, Robert D. and Barbara D. Moran. 2007. Library and Information Center Management, 7th ed. Westport, Connecticut: Libraries Unlimited. 437-460. Chapter 19, entitled "Fiscal Responsibility and Control" is all about budgets and how to properly manage them. It discusses the various types and levels of budgeting that are used to plan for information services. The authors stress that budgeting is extremely important because "it is the monetary expression of a plan of information services in libraries." Look back at this chapter for more in-depth tips on proper budget management.

Article from Prof Library Literature:


1. Collins, Tim. "The Current Budget Environment and Its Impact on Libraries, Publishers, and Vendors." Journal of Library Administration 52, no. 1 (2012): 18-35. Collins addresses how to deal with smaller budgets in libraries during the economic downturn while still providing a high-level of services. He outlines how librarians, vendors, and publishers have had to start thinking creatively in order to preserve their services. This is a great article for a librarian who is dealing with how to continue operations in times of economic strife.




Article from Prof Management Literature:


1. Ericksen, Charles G. "Developing and Managing Adult Education Budgets." New Directions for Adult and Continuing Education 60, (1993): 39-44. While this article is not necessarily from a journal which exclusively discusses management practices, it provides valuable information. It discusses various kinds of budgets, how to development them, and how to efficiently manage them. I had a really tough time finding an article from professional management literature on budgets, but I still think that this article is relevant because the information it presents is applicable in almost any environment.




Examples of Library Policies and Procedures:


1. Jefferson County Public Library Budget Expenditure Policy- This library offers a good example of a practical policy on budgets for its employees. It distributes the work load of managing the budget among the Board of Trustees, the Board of County Commissioners, and the Executive Director of the Library. I like this example because it is short and to the point.

2. IUPUI Library Budget Policy- This policy states that planning for, preparing, and justifying a budget is the job of the library director. I like this particular example because it uses an "FAQ" to explain its budget policies.




Other Resources:


1. The Art and Science of Managing a University Library Budget- While this article is geared toward academic libraries in the process of managing and preparing their budgets, it provides excellent information on budgets in academia. It includes information about the allocation process, leveraging, and suggestions for other sources of library funding.