Inflation rates for serials and databases are forecast to be six percent for FY21. This percentage estimate is based on inflation forecasts from the library's major vendors. The New Mexico State University Library's Instruction & General base budget has continued to be flat for the past 20 years. Therefore, the loss of buying power results in serials and database cancellations on an annual basis.
Historically, the NMSU Library has established alternative revenue stream sources to support the materials budget. However, the rates of inflation have remained greater than all revenue sources combined (I&G and alternative revenues).
Alternative revenue sources used to support the Library's materials budget include the following:
• Biennial GO Bond funding for New Mexico academic libraries
• 2.5 percent of IDC (research overhead)
• Student fee allocated by the Library Student Advocacy and Advisory Council (LSAAC)
• Private donations
|October 2019||Collections Team releases the list of titles under review for University community feedback|
|February 28, 2020||Community feedback is due|
|March 2020||Collections Team revises the list based on community feedback|
|Spring/Summer 2020||Once the budget figures are released, the Collections Team drafts the final cancellations list|
|August 15, 2020||Final cancellations list is processed by the Acquisitions Unit and posted on this guide|
Every year the library reviews our current subscriptions based on a three-variable rubric. This review is the first step in the process of balancing our materials budget. It is required since inflation results in price increases every year, while our materials budget has been flat for over 10 years.
Developing the Review List
The variables used in the rubric to determine titles for review are:
If you have any questions, please contact the Collections Team at email@example.com.
For your information, a spreadsheet of serial titles under review for FY21 is available here:
Your feedback and questions are appreciated. Please respond by February 28, 2020, to the NMSU Library Collections Team at firstname.lastname@example.org.