Financial management for libraries

By William W. Sannwald

Financial management for libraries by William W. Sannwald
Added September 13, 2019

Presenting financial management principles and best practices applicable to both public and academic libraries, this comprehensive text elucidates a broad array of issues crucial for those entering a managerial position. Both thorough and straightforward, Sannwald's treatment gives readers a solid grounding in the basics of accounting and finance, with an emphasis on applicability to library management and operations; ties budgets and strategic planning to library vision, mission, goals, and objectives; discusses the roles of stakeholders such as boards, governmental/municipal bodies, the university, and the community; looks at a variety of funding sources, from tax revenue to gifts and donations, and presents sound strategies for including them when projecting income and expenses; articulates and discusses the pros and cons of various budget strategies; includes sample budgets and forms that can be customized as needed; offers expert guidance on modifying budgets for windfalls and shortfalls; explains operating ratios, fiscal benchmarking, and metrics, demonstrating how to use these to effectively create and manage a budget and assess the fiscal health of the library; and advises on how to effectively prepare and present a budget and annual financial statements to a library's governing agency. —Summary from ALA

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