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Value for Money: Southwestern Ohio’s Return from Investment in Public Libraries

Value for Money: Southwestern Ohio’s Return from Investment in Public Libraries. November 29, 2006 Levin, Driscoll & Fleeter. Overview of Study. The objective of this report was to assess the return from the investment in 9 Public Libraries in Southwestern Ohio in 2005.

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Value for Money: Southwestern Ohio’s Return from Investment in Public Libraries

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  1. Value for Money: Southwestern Ohio’s Return from Investment in Public Libraries November 29, 2006 Levin, Driscoll & Fleeter

  2. Overview of Study • The objective of this report was to assess the return from the investment in 9 Public Libraries in Southwestern Ohio in 2005. • The study included both quantitative and qualitative analysis of the benefits received by patrons as a result of the services provided by the nine library systems.

  3. Quantitative Analysis of Library Services Included the Following: • The estimated market value of circulated items (books, movies, music CDs, etc…) • The estimated value to patrons of library reference services • The estimated value to patrons of access to electronic databases subscribed to by the libraries • The estimated value of use of library facilities and equipment

  4. Library Usage in Southwestern Ohio (2005)

  5. SW Ohio Public Libraries 2005 Circulation, Staffing & Spending

  6. Circulation of Books, Films, and Music CDs (2005)

  7. Circulation of Additional Library Items (2005)

  8. Estimated Market Value of Patron Borrowing (2005)

  9. Estimated Market Value of Patron Borrowing (2005) – cont.

  10. The aggregate economic value of patron borrowing of Circulated Materials in the 9 libraries in 2005 is: • $104,874,725

  11. Estimated Market Value of Reference Services (2005)

  12. The aggregate economic value of patron use of Reference Materials in the 9 libraries in 2005 is: • $64,565,102

  13. Summary of Economic Value by Type of Library Service (2005)

  14. The aggregate economic value based on the direct benefits from patron use of all services in the 9 libraries in 2005 is: • $190,413,820

  15. Comparison of Library Expenditures with Economic Value of Benefits • The 9 Southwestern Ohio public libraries spent $74.5 million in 2005 • The estimated economic value of the direct benefits received by library patrons was $190.4 million in 2005 • The total economic value of library services in 2005 is $284 million once an additional $93.6 million in economic impact generated by “multiplier” effects is included

  16. Comparison of Library Expenditures with Economic Value of Benefits

  17. Qualitative Benefits of Library Programs in 2005 • The 9 Southwestern Ohio public libraries offered a total of 23,457programs of various types in 2005 • Total attendance at these programs was 506,376, representing more than 7% of the total 2005 patron visits at the 9 libraries

  18. Types of Library Programs Offered to Patrons in 2005 • Programs to encourage reading • Training to help parents and teachers teach reading • General support for K-12 education • Support for businesses and job seekers • Support for the elderly, blind, and disabled • Cultural programs • Cooperation with community organizations

  19. Types of Cultural Programs Offered by Libraries in 2005 • Writers workshops • Musical or other artistic presentations • Craft programs • Patriotic, historical, and genealogical programs • Cultural understanding and tolerance

  20. Types of Organizations that use Library Meeting Rooms • Education groups • Businesses • State & Local Government agencies • Health & Social Services organizations (i.e. AA, AARP, Red Cross) • Community & Political organizations • Cultural & Recreational groups (i.e. Boy Scouts, Rotary, 4-H)

  21. Value for Money: Southwestern Ohio’s Return from Investment in Public Libraries Using a conservative measure of value, the total quantifiable direct economic benefit of every dollar expended by libraries in 2005 was $3.81.

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