Determining the Average Cost of a Book for Allocation Formulas.

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Bibliographic Details
Title:	Determining the Average Cost of a Book for Allocation Formulas.
Authors:	Williams, Virginia Kay¹ gwilliams@library.msstate.edu, Schmidt, June² jschmidt@library.msstate.edu
Source:	Library Resources & Technical Services. Jan2008, Vol. 52 Issue 1, p60-70. 11p. 7 Charts.
Subject Terms:	Academic library collection development, Academic library acquisitions, *Academic libraries & faculty, Library materials budgets, Resource allocation
Company/Entity:	Mississippi State University
Abstract:	Academic libraries that use allocation formulas to divide monographic funds among academic departments frequently include the average cost of books per discipline as a variable. Published price indices provide average costs for some subjects, but for libraries serving interdisciplinary departments, purchasing nonbook materials with monographic funds, or purchasing foreign language materials, the published price indices may prove insufficient. This study investigates methods of determining average prices to be used in allocation formulas. As part of evaluating the allocation formula at Mississippi State University, the authors reviewed literature pertinent to library use of allocation formulas, surveyed Carnegie Doctoral/ Research Extensive land grant university libraries on their use of average price as a variable in allocation formulas, and calculated allocations using average price data from four sources: The Bowker Annual, previous acquisition cost data, Blackwell Price Reports, and Blackwell approval plan profiles. The pros and cons of each method of determining average price are discussed. [ABSTRACT FROM AUTHOR]
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Database:	Education Research Complete

Description
Abstract:	Academic libraries that use allocation formulas to divide monographic funds among academic departments frequently include the average cost of books per discipline as a variable. Published price indices provide average costs for some subjects, but for libraries serving interdisciplinary departments, purchasing nonbook materials with monographic funds, or purchasing foreign language materials, the published price indices may prove insufficient. This study investigates methods of determining average prices to be used in allocation formulas. As part of evaluating the allocation formula at Mississippi State University, the authors reviewed literature pertinent to library use of allocation formulas, surveyed Carnegie Doctoral/ Research Extensive land grant university libraries on their use of average price as a variable in allocation formulas, and calculated allocations using average price data from four sources: The Bowker Annual, previous acquisition cost data, Blackwell Price Reports, and Blackwell approval plan profiles. The pros and cons of each method of determining average price are discussed. [ABSTRACT FROM AUTHOR]
ISSN:	00242527
DOI:	10.5860/lrts.52n1.60