Financial Management in Libraries

In today's economic climate in which libraries and information services are increasingly accountable to their parent organizations for their cost-effectiveness, and may even need to prove their added value in order to survive, it is more important than ever for library and information managers to have a firm grasp of financial management. This timely new book offers a far-reaching overview of finance for libraries and information services, addressing such issues as what factors influence financial planning, and how to bring it into line with the information organization's mission and goals; what funding might be available, and how to allocate resources; how tools such as cost analysis might help in budget planning; how to cope with cutbacks, and how to assess the library's value and impact.The key areas covered include: financial planning, sources of funding, budget management, cost analysis, cost-benefit analysis, controlling, performance indicators, targets, benchmarking, investment, partnerships, joint funding, planning costs of new services, planning with decreasing resources, and, assessing the financial impact of libraries.
With examples in every chapter relating to both public and academic libraries in the UK and beyond, this practical guide is essential reading for any library professional involved in financial planning and budgeting, especially directors of service and heads of acquisitions and finance departments. It will also be of great value to library and information students.