Library Acquisitons Forecast 2016-17

Last fiscal year, the Library faced tremendous budgetary pressures due to the confluence of a number of factors including increases in subscription costs, subsuming of Scholars Portal services fee by the acquisitions budget, consolidations within the publishing industry, and the precipitous deterioration of the rate of exchange for Canadian currency.  These factors, coupled with an acquisitions budget that has remained static or declined over the last five fiscal years, had a significant deleterious impact on the Library's purchasing power.  As a consequence, in 2015-16 approximately CA$140,000 of annual subscriptions were cancelled and no money was provided to departments for monograph purchases.  This came on the heels of a substantial number of cancellations in the two years prior.

Going forward, for the 2016-17 fiscal year the acquisitions budget received a permanent ongoing of CA$75,000 to the base, along with other internal adjustments both aiming to provide temporary respite.   Our projected acquisitions expenditures for 2016-17 assume a 5% price increase across the board and an average rate of exchange at CA$1.42 per US dollar.  In this scenario, a small surplus (<$10,000) is projected for the end of the year.  

As the year unfolds, we will work to leverage additional increases and continue to identify low-use, high-cost resources for cancellation with a view to reinstating some of the critical subscriptions that were cancelled in 2015-16.  Among the the latter are the Cambridge University Press collection of 400+ journals, EconLit, and the MLA Bibliography, in tital valued at approximately CA$38,625 (US$27,200 @ CA$1.42).