Page 117 - DLIS003_LIBRARY ADMINISTRATION AND MANAGEMENT

Library Administration and Management

Notes (iii) Principle of equitable allocation: Library funds should be equitably allocated for spending
on different types of reading material covering various subject areas. For example, books
on science and technology are costlier than language books. Costly reference books become
out of date faster in some subject areas than others. However, in special libraries their
principle may be applicable as most documents have to be spent in reference and periodical
literature. All such factors are to be taken into consideration while spending money for
library use.
(iv) Principle of economy: It means that you should not spend more than the necessary amount
on any item, and the expenditure should not exceed your sanctioned grant. Duplication
should be avoided, because the extra amount thus saved could be better spent on purchasing
new alternative titles covering additional subject areas.

Did u know? Normally, 70% of the publication grant is allowed for periodicals.

6.4.4 Classification of Library Expenditure

Generally speaking, money spent on buildings, costly equipment and furniture is shown against
capital expenditure, and other items which occur almost throughout the year like books and
periodicals, stationery and postage, binding and contingency, salaries and wages, etc. are shown
against current expenditure. However, you can classify library expenditure according to different
heads, viz. (a) salaries and wages, (b) binding, (c) stationery, (d) postage, (e) contingency,
(f) books and periodicals, (g) furniture, (h) building, (i) equipment, and (j) publications.

Self Assessment

Fill in the blanks:
11. Libraries are ………….. institutions, and they participate in nation-building activities.

12. It is also necessary to estimate …………….. to be allocated to libraries.
13. Principle of ……………… means that you should not spend more than the necessary
amount on any item, and the expenditure should not exceed your sanctioned grant.

Case Study Sources of Funds in Academic Libraries in Delta State,
Nigeria

cademic libraries are those attached to universities, polytechnics, college of
education and other similar institutions of higher learning. The importance of
Afunding in providing quality library service cannot be overemphasized. It is the
glue that holds the building, collection and staff together and allows the library to attain
its goals. As such, money can be considered the soul of the library. Inadequate funds
impede the effectiveness of any library (Anafulu, 1997).
It is absolutely essential for a library to possess the resources that will enable it meet its
goals. Beautiful building, well trained staff and modern information storage and retrieval
systems can only be appreciated if excellent services are rendered to users. These services
cannot be provided without adequate finance. The American Library Association (2006)
Contd...

112 LOVELY PROFESSIONAL UNIVERSITY