Budget Timeline
Several realities result in The Library making early estimates of an upcoming fiscal year's expenses, and comparing them to recurring funds, including
- The budget reduction process is a series of discussions between liaisons, their faculties, and other subject specialists within UC. This very important process is also time consuming, dictating an early start to the process.
- In order to realize savings in a given fiscal year, any needed serial cancellations and/or reductions to monographic allocations must be made by July 1 of that year (e.g., for fiscal year 2006/2007, changes went into effect July 1, 2006).
- The campus is often unable to inform The Library of any hoped-for permanent increases to the collections budget until after the fiscal year has begun (e.g., for fiscal year 2006/2007, actual budgets did not become available until September 2006).
Estimates are made based on actual expenditures paid out in the preceding completed fiscal year (e.g., estimates for 2006/2007 were made based on the full year's expenses known, 2004/2005) and using inflation rates projected by members of the publishing and library communities. These early estimates are "best guesses". The actual balancing of expenditures to available funds is an ongoing process involving a moving target as any given year plays out.
A typical timeline is as follows (example dates are for fiscal year 2006/2007):
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Fall
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The Library hears from the campus of any changes in permanent allocations to the collections budget for the current fiscal year (example 2005-2006). These dollars are assumed to remain constant into the future for purposes of estimate (projecting 2006-2007). Expenses from the full prior fiscal year are known (example 2004-2005). |
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February - March
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If a deficit in funding is projected, library liaisons will prepare lists of possible cancellations. |
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April - May
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Liaisons' lists of titles proposed for cancellation will be posted and discussed with faculty and with collection managers at other UC campuses. |
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June
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Library staff process cancellations in order to realize savings beginning on July 1 (e.g., July 1, 2006 for fiscal year 2006-2007) |
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ongoing… |
Given a likely future of ongoing inflation, campus and systemwide discussions and analysis to formulate a sustainable collection management strategy will continue. |
