Financial management of libraries and information centers : a professional resource

Covering everything from auditing and budgeting to contracts, revenue and expenditures, forecasting, and ethics in financial management, this book addresses the full spectrum of topics and skills needed by today's library managers. Many library managers learn financial management on the job, within the framework of a specific organization. The "sink or swim" method of skill acquisition can be effective, but it is inefficient, stressful, and typically leaves one lacking in foundational concepts and principles. This book provides a logical, organized way for library school students, librarians, and others such as library board members to gain the specific knowledge critical to the financial management of libraries and information centers. This book covers the full spectrum of topics and skills needed by today's managersfrom the basics of budgeting, accounting, and financial statements to audits, forecasting, risk management, and revenue sources. There are even chapters on ethical considerations and advocacy. The skills readers will learn from this guide are of critical importance in this era of financial constraints and accountability at every level of the organization. Students in management and financial management courses and practicing library managers seeking to improve their financial management skills will find this book an essential tool for success. Covering Everything From Auditing And Budgeting To Contracts, Revenue And Expenditures, Forecasting, And Ethics In Financial Management, This Book Addresses The Full Spectrum Of Topics And Skills Needed By Today's Library Managers. Addresses A Topic Of Growing Concern To Library Managers That Is Applicable To All Types Of Libraries. Offers Readers A Formal, Comprehensive Introduction To Financial Management—not Just An Aspect Such As Cost Benefit Analysis, Budgeting, Or Fundraising. Includes Forms And Worksheets That Help Readers Better Understand The Concepts. Supplies Clear And Detailed Explanations Of Financial Concepts And Practical Applications. Section I. Financial Statements -- Financial Management As Information Management -- Novice Financial Management : Your First Budget And Questions You Should Ask About It -- Basic Financial Statements -- The Accounting Process : How Financial Statements Are Produced -- How Governmental Financial Statements Differ From Nonprofit And For-profit Financial Statements -- Other Elements Of Financial Statements And Financial Statement Analysis -- Internal Control And Auditing Of Financial Statements : Ensuring The Accuracy And Reliability Of Financial Statements And Preventing Fraud -- Section Ii. Budgeting -- Estimation, Forecasting And Financial Risk Management -- Budgets : General Aspects -- Budgets, Behavioral Economics, And Decision Traps : Choice Architectures, Heuristics, Biases -- Capital Budgeting -- Section Iii. Revenues -- Time Value Of Money : Simple Interest, Compound Interest, And Annuities -- Revenue Sources : Tax Revenue -- Revenue Sources : Bonds And Their Role In Revenue For Capital Projects And Operating Expenses -- Revenue Sources : Tuition, Grants, Gifts, Fees, Fines, And Entrepreneurial Activities -- Section Iv. Expenditures -- Contract Basics -- Expenditures : Personnel -- Expenditures : Collections -- Expenditures : It, Facilities, And Other Operating Expenses -- Section V. Cost Accounting In Libraries -- Cost Accounting : General Aspects, Types Of Costs, Andt Calculations -- Cost Accounting : Role In Measurement And Evaluation Of Services -- Cost Accounting : Activity Based Costing -- Cost Accounting : Cost Estimation, Break-even Analysis, Life-cycle Costing, Differential Costing, Leasing, And Outsourcings -- Section Vi. Marketing And Community Trust -- Marketing, Public Affairs, And Development : Communicating The Library's Value -- Ethics And Financial Management -- [section Vii]. Conclusion. Robert H. Burger ; With Margaret B. Edwards, Nell B. Kirst, And Sarah B. Wilds. Includes Bibliographical References And Index.