2. Julia discussed fundraising and recent changes in Foundation policies. The University campaign will enter a 2-3 year “quiet phase” in 2007 with the goal of raising a significant amount of money before public solicitations begin. The university has set a goal of raising over $1 billion by the end of the public campaign. Julia outlined the process for soliciting input from faculty as campaign goals are set, and asked for CDC input about what categories of funds we should be focused on: endowments, current, unrestricted support for ongoing collections, operations support, naming opportunities, etc. and asked members to begin a dialogue with each other and with her about how fundraising (and especially during the next campaign) can support collection development goals. Endowments can be of two types: quasi-endowments (from which both the principal and interest can be used) and true endowments (from which only the interest income can be used). The Libraries have both types of endowments. The quasi-endowment that has provided the lion's share of funding for the Foundation' operations will be spent down to almost nothing by next year and in October they will begin charging a 5% gift assessment on all contributions, to be used to help fund ongoing fundraising operations (and the campaign). Funds received through annual giving, including the Phonothon, will be charged a 10% gift assessment. There is a memorandum from Carol Herring, the President of the Foundation, explaining the rationale for the gift assessment, including the process for deciding to implement this policy at Rutgers. This memo was shared with CDC. All contributed funds are important to the Libraries and donors should continue to be thanked and recognized. Anyone who is interested in a copy of the memo on gift assessments, or discussing any other item about fundraising is welcome to contact Julia.
Bob distributed a one-page summary of the “Final State Budget” for the University. The FY2007 University budget shortfall is $80.4 million. Throughout the University cuts will be made types of department: academic, academic support, and administrative, with the academic getting the least cut and administrative the largest. The in-between category "academic support" is new this year and the Libraries fall under this. In the past, we have been classified as administration. This means our total cut will not as much as originally anticipated but still substantial. Furthermore, restrictions may be placed on how the additional funds can be used.
Bob distributed a one-page report outlining preliminary allocations from state and non-state funds. The bleak picture did not include the anticipated 7% inflation for serials or state funds for books or approval plans.
The Libraries are in the final stage of negotiations and will name a serial vendor or vendors soon. The new contract will reduce serial costs and improve services.
The cancellation planning has involved looking at duplication of serials available only in print form, serials available both in print and online, serial standing orders, monographic series. In additions unique titles, including databases are also being looked at.
Most of the issues regarding print-only duplicate serials have been resolved and cancellations will result in a savings of about $15,000. Wherever possible, all print serials are being canceled when they are available online. This could result in savings of $100,000 to $150,000. The teams are beginning to review the serial standing orders and monographic series duplication lists. Until the cancellation of duplicates is complete and the final budget is received, cuts to individual budgets will not be known. If a monographic series is canceled, a selector could still order titles individually as firm orders.
Mary, Bob and others are working with vendors to try to renegotiate contracts with database providers.
Generalist Team (GERT) - Susan reported that GERT had followed these principles when identifying titles for cancellation: if the title is available in Pdf with no embargoes, cancel print; if the title is only available as HTML, retain one copy and distribute among the campuses (retention decisions based on the most complete holdings in specific subject collection, and/or overall fairness); cancel readily-available newsstand titles with limited academic significance even if there is a three-month embargo on the online content. The team has prioritized a list of database titles to be canceled.
Science Team - Laura reported that the Science Team reviewed the titles with print and Online duplication and recommended that one print subscription be retained at the appropriate research library in cases where online is accessed through an aggregator. In cases where access is from publisher or other stable source, all print will be cancelled if allowed by provider. Online is being investigated and added to print titles where available to replace or supplement print if cost- effective. Science has not yet reviewed the smaller group of print-only duplicates. Databases and other resources with continuing costs will be reviewed at a meeting of all sciences selectors on July 24.
Arts and Humanities Team - Sara noted that in Arts and Humanities the cuts are more difficult since fewer titles are available online, and many of the serial titles are inexpensive and cuts of duplicates will seriously disadvantage students in Camden and Newark. The team is meeting after CDC.
Social Sciences Team - Karen reported that the Social Sciences team will keep one print copy of a journal when the online comes from an aggregator. It will be housed at the appropriate research library. In some cases more than one print copy will be retained. They have not yet addressed print-only duplication or databases.
Teams will complete their work on duplicate cancellations soon. The public will be informed about cancellations via the Libraries' website in the "News and Events" section and by library liaisons.
CDC agreed to discuss at its next meeting the concept of pilot project that would place a sampling of the titles for which there will be only one current print copy in RUL and offering desktop delivery from the Annex of articles to all students and faculty. Judy Gardner and others will write up a brief proposal. The pilot would determine if this is an effective way to providing quick access to articles from journals no longer available for browsing.