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Library FY08 Budget

Library FY08 Budget. August 1, 2007. Context. Tight budget year; we got some money; most units didn’t; nearly every penny is committed Imperative from University administration to create efficiencies/new models. We must do things differently. Less student wage money next year

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Library FY08 Budget

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  1. LibraryFY08 Budget August 1, 2007

  2. Context • Tight budget year; we got some money; most units didn’t; nearly every penny is committed • Imperative from University administration to create efficiencies/new models. We must do things differently. • Less student wage money next year • Loan payments will come from operations budget next year • Exactly what fees will fund still unknown

  3. Sources of New Funds • $750,000 allocation • $76,000 lapsing student wage reduction • $225,000 (one-time minimum wage) • Loan repayment from one-time funds: $300,000 (frees operational funds) • Total: $1,351,000

  4. Notes • Salary situation still unsettled. • Collection increase for Law comes from $750,000 allocation • Sufficient carry-over to make FY08 loan repayment of $300,000 – unlikely for FY09 (last year of repayments)

  5. Notes • One-time minimum wage will be applied so units have same spending power as original FY07 budget, adjusted downward for historical under spending. No temp monies or adjustments for over spending. $225,000 is one-time only; student wages will have to be adjusted in FY09 or money moved from other things. • GAs: required wage increases are unsustainable. Current allocations stand but study is underway to see where reductions might be made. Reductions are essential.

  6. Allocations of New Funds $1,351,000 • $201,000 taxes • $28,000 promotions (Library match) • $24,000 CARLI/OCLC • $253,900 total These are definite commitments that have to be met $1,097,100 available

  7. Allocations of New Funds • $595,000 collections • $39,300 Law collections • $48,000 GA rate increase • $120,000 digitization • $80,000 digitization one-time from unrestricted funds - additional • $75,000 facilities

  8. Allocations of New Funds • $75,000 IT • $75,000 IT one-time from unrestricted funds-additional • Still to be vetted by advisory committee • $56,000gaming initiative (to be vetted) • $20,000 Web Content Group (to be used as needed; not for Gas) • $25,000 scholarly commons • $23,000 Facilities clerk • $20,000Reserves

  9. FEES • Extended hours UGL and Grainger • Start planning for UGL Renovation • Other – still unknown

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