Financial Management for Libraries

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.Ideal for course use, this book will also serve as a ready reference for practitioners.

William W. Sannwald was assistant to the city manager and manager of library design and development from 1997 to 2004, and was city librarian of the San Diego Public Library from 1979 to 1997. He is now a full-time faculty member in the business school at San Diego State University, where he teaches senior and MBA classes in management. He also works as a library building and administrative consultant. He is the author of numerous books and articles on library architecture and management, including Checklist of Library Building Design Considerations, and has presented papers at national and international conferences. Past president of the Library Administration and Management Association (LAMA), Sannwald was twice a jury member of the joint American Library Association/American Institute of Architects awards. He is the recipient of the San Diego American Institute of Architects chapter’s highest honor, the Irving Gill Award, for his contributions to library architecture.