Are the Libraries having budget problems?
As with other campus units, the Libraries experienced a 2% reduction of the materials budget in FY03. A further cut to the base budget of 5% for FY03 was mandated, leading in FY04 to a cancellation of 5% of serial expenditures. In FY05 5% was added to the Libraries’ budget, but then 1% was subsequently removed. The Libraries have been notified of a 3% increase for FY06, however, serial prices have been inflating at rates of 8-10% a year. If FY06 brings cuts or even simply no additional budget growth, serial cuts may need to be implemented to balance the materials budget. If cancellations are required to balance the materials budget in FY07, priorities need to be identified by the spring of 2006 if they are to be used for making decisions with regard to the FY07 budget. The Libraries hope to have a robust materials budget to support all of the existing commitments to print and electronic resources.
