What Reference Librarians Should Know About Library Finances

The two most important thngs reference librarians need to know about library finances are how to obtain financial resources and how to manage the funds once they are obtained. To obtain resources it is necessary to determine the parent institution or community's receptivity to the request and to develop an appropriate request. Included in this process are: testing the social/political/economic climate, fitting the needs of the particular library unit into the library's priorities, and timing the request appropriately for the institutional budget process. Some specifics of developing a budget request and documenting library needs are reviewed. Alternative funding sources are identified. Finally, procedures for managing resources once they have been received are described.