FY18 budget and the University Library
Budget issues in Iowa have been in the headlines, which point out that state revenues are lower than expected. This caused midyear cuts for FY17 and anticipated budget challenges for FY18, starting July 1, 2017.
The mid-FY17 reversion, anticipated to be permanent, for the University Library was $179,494, and accomplished via salary savings, decreased expenditures for materials and binding, computer rotation schedule delays, and deferred plans for new carpet and chairs in the Learning Connection Center in Parks Library.
Planning for FY18 is underway. While details for the FY18 budget are not yet known, we anticipate the Library budget is not likely to receive the increase necessary for the anticipated 6.5% increase to subscriptions costs of current serials, journals, and databases. This will require us to find additional savings and cancel journal subscriptions, databases, and reduce monograph allocations for FY18.
We had expected that some amount of reduction would be necessary and in December 2016 shared this with the Library Advisory Committee. Work by library staff began immediately to review and collect usage data for our existing subscriptions, and as of February 2017, we have cut $45,000 of the anticipated $700,000 target.
Open communication with the campus community is our goal. Fundamental to the success of this effort is our commitment to provide updates about the necessary cancellations and gather input from interested parties on campus. Watch for regular updates in the News & Events area of the University Library website.