Here is the 2020/21 library materials budget.
The budget presented here assumes continued support for Library collections from the University; in particular the support provided to preserve the purchasing power for collections material against the unfavorable USD/CAD FX rate.
The Library received a small lift for collections of almost 1% to assist with inflationary costs of resources. In addition, the University has provided support to protect the budget from exposure to the USD/CAD exchange rate. Approximately 85% of expenditures are in USD, and without this support, cancellations and/or reductions to book lines totaling over $2M would be needed to balance the 2020/21 budget.
The budget has been set with the assumption of the USD/CAD exchange rate at 1.33. In order to provide predictability in this regard, USD has been forward purchased at this agreed upon rate for our forecasted need.
Please note the following additional points:
- The Library received an additional $3060 to support the Sustainable Energy Engineering Program. Initial funds of $103K were received last fiscal year.
- Serial allocations have been set based on increases of 3% over the previous year’s expenditures, and with support for the USD/CAD exchange rate of 1.33, corrected for format changes, new subscriptions, cancellations, and other factors. Adjustments have been made where we already know the increases of high cost resources.
- Most book allocations have been given a 2% increase to account for the increase in the USD/CAD FX rate. Many funds have corrections to account for new serials, or cancelled/ceased serials and new purchasing methods (see point 4 below).
- A new fund -- General Ebook packages --was created for this fiscal year. Funds from many different departmental book lines were moved here to support paying for access to all Taylor and Francis (T&F) ebooks (over 120K ebooks). The contribution amounts were based on 3 years’ worth of T&F book purchasing. If this model proves successful, funds for other publisher ebook packages may be moved to this fund. If the model proves unsuccessful, funds will be moved back to the book lines which contributed them.
General Electronic Serials Packages fund
This fund pays for:
- the journal packages (Big Deals) from the five largest multi-disciplinary journal publishers: Elsevier, Wiley, Taylor & Frances, Springer, SAGE.
- a few smaller publisher journal packages: Oxford, Cambridge, Emerald, Annual Reviews.
- some aggregator journal packages: JSTOR, Project Muse.
Funds for books, serials, and databases (budget lines)
An explanation of the various types of funds used in the budget appears below. Note that not all funds have all the following codes.
- print books, ebooks and ebook packages.
Serials & databases
- journals, annuals, yearbooks, monographic series, electronic indexes, full-text journal databases, leased ebook packages, statistical and financial databases, etc.