CDL: Average price of monographs in budgets (response 1-2)

[Find the original post in this thread here,

http://www.infomotions.com/serials/colldv-l/06/0064.shtml

, with responses below.]


==#1==

From: "Kevil, L H." <KevilL_at_missouri.edu>

Hi Paul,

Why don't you give us a little more detail about what you are trying to
accomplish? What are you trying to maintain constant from one fiscal
year to the next? Is it purchasing power per discipline, which would
involve the number of books published as well as their average price?
Something else?


Hunter

L. Hunter Kevil
Collection Development Librarian
University of Missouri-Columbia
Columbia, MO 65201
573-884-8760
kevill_at_missouri.edu


==#2==

From: "June K. Schmidt" <JSchmidt_at_library.msstate.edu>

Paul, our library uses the average price of books in pertinent
disciplines in our formula which I've copied for you below.  The 
formula didn't originate at our library - it's one we borrowed from 
another institution.

However, we don't use the average price of monographs purchased 
because many of our departments decline to buy very expensive books, 
even if they would be useful.  So we don't feel our own expenditures 
are really representative of the average of all books published in the 
discipline. In the past we've used prices from a couple of different 
sources: the Bowker Annual and a report from our primary book jobber. 
  A colleague and I are currently undertaking a study of these 
factors, comparing the average expenditure and the prices from the two 
sources we mentioned to see how much variation there is.  We also plan 
to survey a number of libraries to determine if they use allocation 
formulas, whether average book price is one of the variables used in 
the formula, and how that average price is determined.  We hope to 
have our study finished in early summer, and I'll be happy to share 
the results.

BIBLIOGRAPHIC MATERIALS FUND ALLOCATION FORMULA
IN USE AT MISSISSIPPI STATE UNIVERSITY LIBRARIES

The Bibliographic Materials Fund Allocation Formula contains
eight (8) variables detailed below:

VARIABLE A:  Undergraduate Credit-Person Hours

VARIABLE B:  Number of Declared Undergraduate Majors

VARIABLE C:  Graduate Credit-Person Hours

VARIABLE D:  Number of Graduate Majors

VARIABLE E:  Average Cost Weighting (This variable is based on the
average cost per item for books in the various academic disciplines.
The source of this information is data supplied by current firm order
vendor(s).  Index values for each subject area are computed by dividing
each average price listed by the largest average price listed.)

VARIABLE F:  Publishing Output Adjustment

VARIABLE G:  Relative Importance of Books Over Periodicals

VARIABLE H:  Local Use Adjustment from Circulation Statistics

The composite value [ (A+B) + 2(C+D) ] is multiplied by the four
variables E, F, G, and H.  After the allocation index values have been
computed for each departmental fund, these values are converted to
percentages for application to funding.  The index values are 
converted by dividing each fund's index value by the total of all 
index values.

The literature of the library profession makes frequent reference to
the principle that a certain degree of funding is necessary for 
teaching an academic discipline regardless of the number of students 
in the program.  On an absolute scale, it is very probable that some 
of our allocations do not meet minimum funding levels.  Our Libraries'
application of this principle is to select a level of funding and 
bring all departments below that figure to that level.