Budget Outlook
As has been true for the last two decades, costs for library materials continue to far outpace the rise in either the producer or consumer price indices. Between 2001 and 2006, journal prices rose 37% and monographic inflation during the same timeframe amounted to 17%. In this environment, regular and permanent increases to the collections budget must be made in order to maintain the same content from year to year. During the past six years The Library's collections budget has received no adjustment, and consequently a structural deficit has begun to emerge. The Library has avoided major serial cancellation projects during four of those six years due to two critical factors:
- Careful stewardship of a $4.6 million base budget augmentation made by then-Chancellor Berdahl during 1999-2001.
- Use of one-time funding sources, including for example a one-time reimbursement of payments to Elsevier following the successful conclusion of a systemwide license.
The Library is no longer able to leverage the Berdahl adjustment and one-time funding sources to cover costs projected through the coming three years. Short of a significant enhancement to the base budget, a major journal cancellation project is likely during the coming fiscal year. If we are required to undertake a collections reduction project, faculty input in the decision-making process will be sought.
This year's Budget Request and Narrative from the University Library (PDF) describes the genesis of the structural deficit and proposes a creative approach to resolving the crisis. The Library proposes a 3-year joint compact between the campus and The Library. Each partner would commit to raising equal amounts in permanent funding support during each of the coming three fiscal years. The full text and details of the Budget Request are available for internal campus review.
