Public library finance managers give us the insight we all need

Citation

Furlong, J.T. (2002), "Public library finance managers give us the insight we all need", The Bottom Line, Vol. 15 No. 4. https://doi.org/10.1108/bl.2002.17015daa.001

Public library finance managers give us the insight we all need

Public library finance managers give us the insight we all need

Although it's been over a year in the making, the timing of the release of this issue of the journal could not be more appropriate. The recent economic downturn has left public libraries scrambling, to find not only alternative sources for funding, but also proof for taxpayers of the worth of their local libraries. The economic climate adds increasingly to the pressure placed on public libraries, including: continued budget cutbacks, rising prices for materials and the need for new technologies, even though public library usage typically increases in difficult economic times.

The articles within, offer new and innovative ways of library funding and collection development, no matter what the economy. Glen Holt and Donald Elliott (Cost benefit analysis: a summary of the methodology) give us an introduction to the methodology of cost benefit analysis (CBA) as it applies to libraries. Their team received grant monies from the Public Library Association and the Institute of Museum and Library Services to study the value of the services that a public library delivers to its constituents. Economists have used CBA for many years, but this study is one of the first to apply its methods directly to public libraries.

Along the same lines, Adele Kostiak (Valuing your public library: the experience of the Barrie Public Library) describes how her library documented its social and economic contribution to the local community. The library realized that in its growing community, tax-funded institutions were competing for strained local monies. After the comprehensive study, the library saw an increase in both its operating budget and community partnerships.

The Nashville Public Library recently completed a major building campaign, resulting in a stunning new main library and five new branches. Donna Nicely, director of the Nashville Public Library, tells us in her article (Private funding for capital projects) of the role private funding played in the completion of her project. The library had not attempted such a high level of fundraising in the past, but as a result of their new initiative, the library's foundation amassed over $10 million in assets and earned the admiration of the city's civic leaders. The newfound money allowed the library to include strong architectural elements in its new buildings and add valuable new holdings in its collections.

The Des Moines Public Library found an innovative way to keep their collection vibrant. Lorna Truck explains in her article (Plain English collection budgets: a collection plan for public libraries) a precept to establish benchmarks to measure their collection and set goals for its continued excellence. Using the theories of Ray Kenagy, along with their own quantitative formula, they improved the vitality of their collection, reduced the waiting time for popular materials, streamlined their collection size and increased overall circulation by 18 per cent.

The columns and book reviews in this issue continue our theme of financing in public libraries. Kent Boese offers us the thoughts of Susan Hildreth, city librarian, San Francisco Public Library, on various aspects of funding in public libraries.

It has been a pleasure working on this special issue. Although the articles and columns deal specifically with public libraries, I hope that librarians in all aspects of the field can learn from them. I would like to thank Jim Walther, the editor, for giving me the opportunity to learn more about my profession with this issue. I would also like to thank Kay K. Runge, director of the Public Library of Des Moines and fellow editorial advisory board member, for her endless hours of work she devoted to this special issue.

John T. Furlong