Financial management in academic libraries : data-driven planning and budgeting / Robert E. Dugan and Peter Hernon.

"Financial Management in Academic Libraries explores the connection between financial management and accountability, effectiveness, efficiency, and sustainability, and demonstrates how to capture them in a realistic, data-supported budget. Among the different units of an academic institution, t...

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Bibliographic Details
Main Authors: Dugan, Robert E., 1952- (Author), Hernon, Peter (Author)
Format: Book
Published: Chicago, Illinois : Association of College and Research Libraries, a division of the American Library Association, 2018.
Table of Contents:
  • Planning. Why plan? ; Factors in planning ; Planning techniques ; Major components of a long-term strategic plan ; Strategic finance and planning
  • General concepts : just so we are on the same page. Systems model ; Accountability ; A financial management cycle ; Basic steps ; Management information systems ; Other general concepts
  • Types of budgets. Budgets ; Types of budgets. Lump sum budgets ; Line-item budgets ; Formula budgets ; Program budgets ; Modified program budgets ; Performance budgets ; Resource-centered budgets ; Zero-based budgets
  • Budgeting. Sources of funds ; Types of costs. Direct and indirect costs ; Fixed and variable costs ; Overhead costs ; In-kind costs ; Capital costs ; Controllable and non-controllable costs ; A note about costs ; Where do we get information for budgeting? ; Data used for budgeting ; Staff and staffing ; Collections. Allocation formulas ; Consortia ; Additional collections expenditures ; Every so often... ; Other sources of data for collections ; Technologies ; Facilities
  • Program budgeting. Program budgets in general ; Variations in program budgeting ; Example of developing a program budget. Program budgeting and the library's strategic plan ; Program budgeting and the budget ; Program budgeting and metrics ; Program budgeting template
  • Managing a budget during the fiscal year. Control : a technical term and function ; Control tools ; Policies influencing financial management ; Monitoring budget expenditures
  • Reports and reporting. Internal reporting ; External reporting ; The annual report ; Audits
  • Uses of expenditures data. Evaluation and assessment processes ; Metrics used by academic libraries ; Financial metrics ; Calculating unit costs ; Library value from a financial perspective. Money and time ; Cost-benefit analysis ; Intellectual capital ; Return on investment ; Value of usage ; Potential and actual value ; Financial metrics for studies on benchmarking and best practices. Benchmarking ; Best practices
  • A smorgasbord : budget reduction strategies, fraud, and best practices. Reduction in expected or allocated budgets ; Library fraud ; Conclusion: Summary of the "Best of" best practices
  • Financial leadership. Leadership ; Leadership theories ; Developing a fuller vision. How to develop the more detailed image of the future ; Translating a vision into an action plan
  • Appendix. Answers to exercise questions.