ACQNET: Depreciating Collections (2 messages)

(1)--------------------------------------------------------------------
Date: Mon, 19 Mar 2001 11:46:17 -0500
From: David Gray (Marshall U.) <grayd_at_marshall.edu>
Subject: Depreciating Collections

I have just heard that state budget types in our state are going to start
considering library collections as assets that are depreciated.  They want 
a state-wide agreement on what is the "useful life" of a library book and 
how to go back historically and figure depreciation and how to
figure depreciation from July 1, 2001 forward. 

I assume you could use the Bowker College Library Price Index or their
averages for North American Academic books as your baseline, but not being
an accountant I'm not sure.  And this doesn't take into account how
out-of-print titles can increase in price either.

I would love to hear from anyone who has experience with this issue.  Please
respond to me directly.

David Gray
Collection Development Librarian
Marshall University
Drinko Library
400 Hal Greer Blvd
Huntington, WV  25755
304-696-4356
Fax:  304-696-5228
grayd_at_marshall.edu

(2)------------------------------------------------------------------------

Date: Thu, 29 Mar 2001 18:05:10 -0500
From: Thelma Diercks (Univ. of Hawaii) <thelma_at_hawaii.edu>
Subject: Depreciating the collection according to GAAP

Beginning July 1, 2001, the UHM Library will be required to depreciate 
the value of its collection following Generally Accepted Accounting
Principles (GAAP) for auditing purposes.  Here are my questions.

1. We have been asked to come up with a single percentage by which the
   entire collection can be depreciated.  The percentage will be 
   applied to all formats.  How do you depreciate?  What percentage(s) 
   do you use?

2. We have also been asked to determine the useful life (in years) of
   materials by each format in the collection (i.e., books, videos, 
   cds, journals, etc.)  Do you have a table of "useful life" for materials
   in your collection which you might share with us?

Any and all help and advice will be greatly appreciated.  Aloha!

Thelma Diercks
Head, Acquisitions Department
Acting Head, Collection Services Division
University of Hawaii Library

email: thelma_at_hawaii.edu
phone: (808) 956-2611
fax:   (808) 956-5968