FY08 Library Materials Budget

The Provost has increased, by $400,000, the Libraries' materials budget for FY08.

In spite of this increase, however, the Libraries project that funding will fall approximately $500,000 short of annual commitments to journals, newspapers, and licensed databases. In order to avoid deficit spending, the Libraries are forced to cancel 9% (in expenditures) of our subscriptions.

Projections for FY08 include 8% journal price inflation (see the 2007 Periodicals Price Survey) and a 5% price increase to database subscription prices.

As in FY07, the Libraries will act upon faculty input gathered in the Serial Review process, last conducted in FY06, to cancel from among our lowest priority subscriptions from every department.

A list of titles to be canceled will have to be finalized no later than August 31. Subscriptions are renewed in September to ensure uninterrupted access and receipt of new issues. Cancellations will take effect beginning with issues published in 2008.

Database subscriptions will also be evaluated but since renewal decisions for databases are made in the spring, we have already committed to the majority of our resources for FY08. Lowest priority databases that have not already been renewed will be examined at the point of renewal. Database subscriptions that renew in the spring will be re-evaluated and considered for potential cancellation in FY09.

Allocations for book prices will not be reduced for FY08, nor will they be increased. Book prices have inflated recently at about 4%, so the buying power of monograph funds is reduced.