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Oct 25

Financial Management for Libraries (2018)

Posted on October 25, 2018 at 3:31 PM by Brian Herder

Financial Management for Libraries

Financial Management for Libraries (2018)

William W. Sannwald

ALA Neal-Schuman

978-0-8389-1560-8


Presenting financial management principles and best practices applicable to both public and academic libraries, this comprehensive text elucidates a broad array of issues crucial for those entering a managerial position. Both thorough and straightforward, Sannwald's treatment

  • gives readers a solid grounding in the basics of accounting and finance, with an emphasis on applicability to library management and operations;
  • ties budgets and strategic planning to library vision, mission, goals, and objectives;
  • discusses the roles of stakeholders such as boards, governmental/municipal bodies, the university, and the community;
  • looks at a variety of funding sources, from tax revenue to gifts and donations, and presents sound strategies for including them when projecting income and expenses;
  • articulates and discusses the pros and cons of various budget strategies;
  • includes sample budgets and forms that can be customized as needed;
  • offers expert guidance on modifying budgets for windfalls and shortfalls;
  • explains operating ratios, fiscal benchmarking, and metrics, demonstrating how to use these to effectively create and manage a budget and assess the fiscal health of the library; and
  • advises on how to effectively prepare and present a budget and annual financial statements to a library's governing agency.

Ideal for course use, this book will also serve as a ready reference for practitioners.