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Last updated 08-Jul-2009

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Library budget

Budgeting is a managerial tool used for planning and facilitating decisions about the allocation of resources. It is also one means of monitoring the results to ensure they conform to the plan. The budget expresses financially how the library will achieve its outcomes, and as such must be linked to the schools priorities. Preparation of the budget should always be the role of the teacher in charge of the library in consultation with other library and school staff.

Why have a budget?

A budget
• sets planning parameters for the school administration
• justifies the allocation of funds
• provides accountability for items of expenditure
• links achievement of student outcomes to resources input
• identifies priorities of the library and school and gives financial support
• develops school awareness of the financial requirements of the library

Scope of the budget

A budget includes costs associated with:
• collection development
• maintenance
• growth in priority areas
• administration costs of library
• projects e.g: book detection system, upgrading library system

Process of budgeting

Budgeting should not be seen as an isolated or incidental exercise. It must be inextricably tied to the notion of priorities and needs. The effective budget should be fair, appropriate, documented and well publicised. It is essential that forthcoming needs are clearly identified and costed.

Characteristics of a good budget

A good budget:
• is an ongoing process
• includes all library staff in the gathering of information
• includes all relevant items
• is clear and easy to read

Until July 2007 the library catalogue is acceptable as an asset register for all library resources with a purchase price of under $5 000.

Single or a grouped set of library reference materials, reading materials or visual aids with a purchase price of $5 000 or greater (excluding GST) must be recorded in the Asset Register in the Library References category. The acquisition of an encyclopaedia with a purchase price of more than $5 000 (excluding GST) is an example of this.

Changes to the recording of the school library collection
From July 2007 all library resources with a useful life of two years or more must also be included collectively, in the Library Collection category of the school's asset register and the rolling method of depreciation applied. Guidelines were provided to schools in May 2007: DO07/151344 Changes to the recording of school software and library collection.

School Library Fund
Under the Income Tax Assessment Act, schools and colleges may set up a tax-deductible public library fund. Details and guidelines are available on the Department's website: School Library fund: http://www.det.wa.edu.au/education/finance/docs/dgr-school-library-fundv3.0.doc

Book Fairs
A number of publishers and distributors offer book fairs as a means of fundraising.