Academic journal article Reference & User Services Quarterly

Financial Management for Libraries

Academic journal article Reference & User Services Quarterly

Financial Management for Libraries

Article excerpt

Financial Management for Libraries. By William W. Sannwald. Chicago: ALA Neal-Schuman, 2018. 199 p. Paper $73.00 (ISBN-13: 978-0-8389-1560-8).

Function benchmarking, NPV, GASB--the vocabulary of budgets and finance can often seem like another language. Financial Management for Libraries clarifies these concepts by putting them in the context of real-life public and academic library management. For many years, the author, William Sannwald, presented budgeting workshops for the Library Leadership and Management Association (LLAMA), and he based this book on his teaching experience. Written for library science students and the accidental administrator faced with creating a budget, the book can serve as a primer to the entire process of financial management or as a reference resource to consult for guidance. As an aid to library school instructors, each chapter opens with learning objectives and closes with suggested exercises. Chapters also include helpful lists of references for more in-depth information on the topics covered.

The topics discussed include accounting concepts, the budgeting process, library performance measures, forecasting, and finding sources of financing for the inevitable large capital projects. Taken together, they provide the big picture of managing library finances. Where jargon is inevitable, the terms are placed in context and explained in plain English. …

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