Why are journal subscriptions being targeted for cancellation?
Journal subscriptions account for the largest proportion of the Libraries acquisitions budget. Spending for journals increased by 30% in the last five years, and the Libraries managed to avoid major cancellations thanks to the additional funding provided by the University. The Libraries also reviewed titles annually and reduced expenditures whenever possible. This year, inflation in the price of journal subscriptions has outpaced the ability of the University to provide adequate funding, due in large part to the budget reduction we all face. During the same five-year period, we have not been able to devote any funds toward inflation costs of other library materials such as books. Every year we have purchased fewer books; thus in effect our expenditures for books have already been significantly reduced.
