We prepay Matthew Bender and a few other publishers at the beginning of
our fiscal year in order to obtain discounts and reduce the time and
labor involved in preparing monthly payments. Many academic law
libraries funded with public monies do this. However, private law firm
or corporate libraries' financial managers may prefer to pay in
installments to conserve their cash flow.
In order to ensure adequate monies for other expenditures, we plan a
yearly budget for the entire library operations based on estimates from the
previous fiscal year plus a percent for inflation. At the time of planning,
we also review our continuations for possible cancellation and allow for new
purchases. This process has allowed the library director to have an
estimate of end-of-the-year discretionary funds as well as the overview
and effective control of the library finances.
Cynthia Aninao, Acquisitions Librarian cynthia.aninao@law.uc.edu
University of Cincinnati 513-556-0156
Marx Law Library
PO Box 210142
Cincinnati, OH 45221-0142
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