Library Funding

Library Funding

NGUYEN NGOC NAM (MA) - TMIL - HUC

Word Cloud

What are some important things the library needs to pay for

• Funds: Tiền vốn, Quỹ

• Budget: Ngân sách

• Spending: Chi tiêu

• Reporting: Báo cáo

• Needs: Nhu cầu

• Costs: Chi phí, Giá cả

• Priorities: Ưu tiên

• Stakeholders: Các bên liên quan

• Income: Thu nhập

• Expenses: Chi phí, Khoản chi

​Vocabulary

• Planning: Lập kế hoạch

• Controlling: Kiểm soát

• Accountable: Có trách nhiệm giải trình

• Forecasting: Dự báo

• Flexible: Linh hoạt

• Stability: Sự ổn định

• Recurring: Thường xuyên, Định kỳ

• Nonrecurring: Không thường xuyên, Một lần

• Justify: Chứng minh, Biện minh

• Advocacy: Sự ủng hộ, Vận động

​Vocabulary

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The ​

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of online magazines can be very high.

The library is ​

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money on new books this month.

We are ​

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how much money we will need next year.

The librarian had to ​

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why the library needed more money.

The library gets ​

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from the school.

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costs

spending

forecasting

justify

income

savings

donations

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Paying for internet access is a ​

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cost for the library.

The library needs ​

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to buy new computers.

We want ​

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in our library funding every year.

The librarian is ​

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for the library's money.

The library's budget is ​

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so we can buy new things if needed.

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recurring

funds

stability

accountable

flexible

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​

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the budget takes a lot of time.

Our ​

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for spending include books and computers.

The ​

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helps the library decide how to use its money.

Students and teachers are important ​

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in the library.

One of the library's ​

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is more comfortable chairs.

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Planning

priorities

budget

stakeholders

needs

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​

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helps the library get the money it needs.

We need to do ​

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about how much money we spent.

​

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how much we spend is very important.

Buying a new printer was a ​

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expense.

The library has many ​

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, like salaries and books.

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Advocacy

reporting

Controlling

nonrecurring

expenses

The Budget Process

The Budget Process

• Fiscal management in academic libraries involves managing money through finding, spending, and reporting.

• Effective budgeting requires planning, prioritizing needs with input, and controlling expenses.

• Libraries should seek funding from various sources beyond the campus.

• Academic libraries face ongoing financial challenges related to resources, technology, and staffing.

• Presenting and defending the budget request effectively through advocacy and good relationships is crucial.

The Budget Process

• Budget: Ngân sách

• Funds: Tiền vốn, Quỹ

• Spending: Chi tiêu

• Income: Thu nhập

• Expenses: Chi phí, Khoản chi

• Planning: Lập kế hoạch

• Priorities: Ưu tiên

• Funding: Cấp vốn, Tài trợ

• Recurring Costs: Chi phí định kỳ

• Nonrecurring Costs: Chi phí không định kỳ

• Advocacy: Sự ủng hộ

• Stakeholders: Các bên liên quan

• Justify: Chứng minh

• Contingency Plan: Kế hoạch dự phòng

• Reporting: Báo cáo

Multiple Choice

What is fiscal management in academic libraries about?

• Only spending money.
• Finding money, spending it, and talking about it.
• Finding money, spending it, and reporting on its use.
• Only finding money.

Multiple Choice

What is important for using library funds successfully?

• Spending a lot of money.
• Prioritizing.
• Ignoring stakeholders' input.
• Not making a budget plan.

Multiple Choice

Where should library leaders look for funding?

• Only from students.
• Only from the campus.
• From different places, not just the campus.
• Only from other libraries.

Multiple Choice

What does a budget help the library do?

• Only spending money.
• Planning, coordinating, and controlling expenses.
• Only making people accountable.
• Only predicting income.

Multiple Choice

What kind of predictions are safer when budgeting?

• Optimistic predictions.
• Very high predictions.
• Conservative predictions.
• Unrealistic predictions.

Multiple Choice

What is an operating budget for?

• Buying big equipment.
• Expenses for a specific time.
• One-time expenses.
• Long-term planning.

Multiple Choice

What is a capital budget for?

• Ongoing costs.
• Expenses for a short time.
• Equipment expenditures.
• Regular salaries.

Multiple Choice

What are recurring costs?

• Costs that happen only once.
• Costs that are ongoing.
• Costs for big equipment.
• Costs that change a lot.

Multiple Choice

Who is legally in charge of the library budget?

• All the staff members.
• The students.
• The library director.
• The university president.

Multiple Choice

What is important to have for potential budget problems?

• A plan to spend more money.
• No plan at all.
• A contingency plan.
• A plan to ignore the problems.

The Budget Cycle

• Good managers consider four fiscal years: past, current, next, and the year after.

• In the current year, managers monitor spending, compare results to expectations, and make adjustments.

• Senior managers justify the budget request for the coming year by explaining past spending and future needs.

• Initial budget proposals for the future year are requested in the latter part of the fiscal year.

• Creating a realistic request involves reviewing past and current budgets and considering new initiatives.

The Budget Cycle

• Budget Cycle: Chu kỳ ngân sách

• Fiscal Year: Năm tài chính

• Past Year: Năm trước

• Current Year: Năm hiện tại

• Next Year: Năm tới

• Year After: Năm sau nữa

• Monitor: Giám sát

• Spending: Chi tiêu

• Results: Kết quả

• Expectations: Kỳ vọng

• Adjust: Điều chỉnh

• Justification: Sự biện minh

• Expenditures: Các khoản chi tiêu

• Proposals: Đề xuất

• Initiatives: Sáng kiến

Multiple Choice

How many fiscal years do good managers deal with?

• Two
• Three
• Four
• Five

Multiple Choice

What does a manager do for the current fiscal year?

• Plans for the year after next.
• Monitors spending and compares results.
• Requests budget for the past year.
• Ignores the budget.

Multiple Choice

What do senior managers often provide for the coming year?

• Questions about future income.
• Justifications for the budget request.
• Reports on the year after.
• Complaints about past spending.

Multiple Choice

When do organizations request initial proposals for the future year?

• At the beginning of the fiscal year.
• In the middle of the fiscal year.
• During the latter part of the fiscal year.
• Before the past year.

Multiple Choice

What should the library consider when creating a realistic budget request?

• Only new initiatives.
• Only the current budget.
• Past budget handling and the current budget.
• Only defending expenses.

The Budget Preparation

• The library director is legally in charge of the budget, but management varies by library size.

• Budget preparation involves supervisors estimating needs, which are then combined by different management levels.

• Libraries aim for financial stability, and budget committees can aid in planning and commitment.

• A contingency plan is crucial for handling budget shortfalls and avoiding negative impacts.

• Academic libraries face financial issues with facilities, collections, electronic resources, and staffing costs.

The Budget Preparation

• Budget Preparation: Chuẩn bị ngân sách

• Director: Giám đốc

• Supervisors: Người giám sát

• Funding Needs: Nhu cầu tài trợ

• Senior Management: Quản lý cấp cao

• Budget Committee: Ủy ban ngân sách

• Contingency Plan: Kế hoạch dự phòng

• Budget Shortfalls: Thâm hụt ngân sách

• Financial Distress: Khó khăn tài chính

• Facilities: Cơ sở vật chất

• Collections: Bộ sưu tập

• Electronic Resources: Tài nguyên điện tử

• Staffing: Tuyển dụng, Nhân sự

• Salary Increases: Tăng lương

• Benefits Costs: Chi phí phúc lợi

Multiple Choice

Who is legally responsible for the library's budget?

• All library staff.
• The library director.
• The students.
• The university president.

Multiple Choice

In a small library, who usually manages the budget?

• A special budget team.
• Different staff members.
• The director.
• The university.

Multiple Choice

What do library supervisors do during budget preparation?

• They spend all the money.
• They ignore funding needs.
• They estimate their funding needs.
• They create the overall budget.

Multiple Choice

What is the purpose of a budget or financial planning committee?

• To spend money quickly.
• To involve more people and encourage future planning.
• To make budgeting more difficult.
• To avoid planning.

Multiple Choice

Why is a contingency plan important for the library budget?

• To help spend extra money.
• To avoid making bad decisions if there is less money.
• To make staff unhappy.
• To encourage overspending.

Multiple Choice

What is a short-term tactic for dealing with financial problems?

• Hiring more staff.
• Buying new equipment.
• Hiring freezes.
• Increasing all budgets.

Multiple Choice

What can cutting back too much do to library staff?

• Make them more productive.
• Hurt their morale and job satisfaction.
• Make them want to stay longer.
• Have no effect on them.

Multiple Choice

According to Glen Holt, what should libraries demonstrate?

• That they don't need more money.
• The importance of their service and its benefits.
• That they only serve students.
• That they don't need to adapt.

Multiple Choice

What is one financial issue that academic libraries face?

• Having too much funding.
• Continuously building and maintaining collections.
• Not needing electronic resources.
• Having too many staff members.

Multiple Choice

What happens to the cost of staffing in libraries over time?

• It usually decreases.
• It stays the same.
• It often increases due to salaries and benefits.
• It depends on the weather.

Presenting and Defending the Budget Request

• Presenting and defending a budget request can be more challenging than preparing it due to competition for funds.

• Advocacy is crucial for influencing decision-makers about the library's importance and needs.

• Involving the user base and building support from faculty can strengthen advocacy efforts.

• Good relationships with the campus business office are essential for a successful budget request.

• Honesty, cooperation, and cautious promises are important when presenting budget plans.

Presenting and Defending the Budget Request

• Presenting: Thuyết trình, Trình bày

• Defending: Bảo vệ, Biện hộ

• Budget Request: Yêu cầu ngân sách

• Advocacy: Sự ủng hộ, Vận động

• Lobbying: Vận động hành lang

• Decision-makers: Người ra quyết định

• User Base: Cộng đồng người dùng

• Business Office: Phòng tài chính

• Relationships: Mối quan hệ

• Cooperation: Sự hợp tác

• Honest: Trung thực

• Promises: Lời hứa

• Under-promise: Hứa ít hơn khả năng

• Over-deliver: Hoàn thành tốt hơn mong đợi

• Budget-politics: Chính trị ngân sách

Multiple Choice

Is preparing a budget request usually harder or easier than presenting it?

• Harder
• Easier
• The same
• Not mentioned in the text.

Multiple Choice

Why is presenting and defending a budget request challenging?

• Because there is usually a lot of money.
• Because campus units compete for limited funds.
• Because it is not important.
• Because everyone agrees on the budget.

Multiple Choice

What kind of budget approach is common in academic libraries?

• A completely new approach every year.
• An incremental approach.
• A decreasing approach.
• A secret approach.

Multiple Choice

What is advocacy in the context of library budgets?

• Ignoring the needs of others.
• Influencing people about the importance of the library.
• Spending money without a plan.
• Making demands without explanation.

Multiple Choice

What should librarians focus on being during budget preparation?

• Unhelpful
• Ineffective
• Effective advocates.
• Silent observers.

Multiple Choice

Why should libraries demonstrate their needs clearly?

• Because decision-makers often fund departments in crisis.
• To show they don't need any money.
• To confuse the funding officers.
• Because their needs are never important.

Multiple Choice

Who should be included in advocacy efforts during budget crunches?

• Only the librarians.
• Only the university president.
• The user base.
• No one.

Multiple Choice

Why is it important to have good relationships with the campus business office?

• To avoid talking to them.
• To make the process more difficult.
• To improve the chances of budget success.
• Because it doesn't matter.

Multiple Choice

What should you demonstrate during times when the institution is trying to save money?

• Your lack of cooperation.
• Your cooperation in your request.
• Your dishonesty.
• Your anger.

Multiple Choice

What is better to do when presenting plans for new programs?

• Over-promise and under-deliver.
• Make as many promises as possible.
• Under-promise and over-deliver.
• Not make any promises at all.