Date: March 9, 2010
FOR IMMEDIATE RELEASE
CONTACT: Jeanette Smith, NMSU Library, (575) 646-7492, email@example.com
Academic research libraries across the nation are experiencing tremendous budget challenges including the need to make substantial reductions to their materials budgets. This includes the New Mexico State University Library, which aims to cut its materials budget in a notably public process by a projected 27% or $575,000.
An article in the February 25 national publication Library Journal, based on an interview with Library Dean Elizabeth A. Titus as well as information from an online Library “LibGuide,” states that the NMSU Library finds itself in a “perfect storm,” unable to continue to support rising costs for research and curricular materials. Read the article at http://www.libraryjournal.com/article/CA6720424.html.
The budget challenges stem from a combination of factors, including continued price increases for serials and databases beyond standard inflation rates and a 50% reduction of NMSU indirect cost funding that has been used to support the library materials budget. There are also significant decreases in funding for higher education in New Mexico, a loss of revenues from library endowments used to build collections and a pattern of decreasing funds available from State of New Mexico General Obligation Bonds to purchase library materials.
Dean Titus said that all of these factors have contributed to the Library’s need to reduce spending in all areas of the Library’s budget. She notes that the Library understands how central the collection is to research and teaching. It is doing everything it can to limit the impact on budget cuts. However, because the collections budget is 44% of the Library’s overall budget, it cannot avoid collections reductions in the face of significant cuts.
The Library needs to complete the process of identifying library materials budget reductions by May 1, 2010, in order for licensing agreements, contracts and subscriptions to be cancelled for FY 2011. The most current information on the 2011 Library Materials Budget Reduction Project is in a “LibGuide” written by Collection Development Coordinator and Professor Susan Beck. Visit the online guide at http://nmsu.libguides.com/BudgetCuts.
As information becomes available, the Library will share it with you. A list of Frequently Asked Questions that discusses the Library’s approach to this budget reduction process has been added to the Library Web page at http://nmsu.libguides.com/content.php?pid=67080&sid=745181.
Those who wish to support increased funding for the Library are invited to send a letter of support to Dean Titus at the New Mexico State University Library, MSC 3475, P.O. Box 30006, Las Cruces, NM 88003-8006.