Fund Code Review Task Force Report - June 2005

Veronica Calderhead
Howard Dess
Nancy Hendrickson
Rebecca Martinez
Jim Nettleman
Mary Page
Robert Sewell
Gracemary Smulewitz
Christopher Sterback

Introduction:

The Fund Code Review Task Force was asked to evaluate fund code structures for library resources to improve representation of material expenditures in all disciplines for the libraries. The charge to the task force was the following:

The current fund codes in our acquisition system were established in (1993), before the implementation of SIRSI. It is time to review the fund codes - their structure and the individual elements - to see if they give us the information we need to manage our funds in the most efficient manner possible.

The Task Force evaluated the fund code structures for their effectiveness in allocations, in evaluation of collections and in cash flow analysis.

Recommendations

As digital resources continue to grow at Rutgers Libraries, to best evaluate by subject their impact on collection development, the committee presented the following recommendations to Collection Development Council:

• Create fund codes that represent a subject discipline and RU-Online following the structure of our current print fund codes- 2 letters for subject, 1 for category and one for library. For example:
  periodicals -
            Business = BU
            Periodical= P
            RU-Online= O
            Fund code = BUPO
  
  
  
  packages -
            Business= BU
            Package= G
            RU-Online= O
            Fund code = BUGO
  
  
  
  • Management of these funds will be the responsibility of the "electronic resource teams" so that orders and cancellations will be part of the teams oversight.
  • Convert all orders now funded on ELPX to these new fund codes using a subject breakdown for the conversion.
  • With Collection Development Council's approval, the fund code conversion is being implemented for the 2006 fiscal year.

• The Task Force recommends a consistent use of "material types" in order records to monitor formats. The "material types" promote better tracking of material ordered and also promote more accurate statistic reporting. Material types will be reviewed by the Task Force and redistributed for use.

• Increase awareness and cultivate practice of the Collection Development Council's general policy for retention of print copies when purchasing online, which is:
  
  All print copies that duplicate online subscriptions for a publishers' package to which we have archival rights are cancelled. The exceptions are when (a) print subscription(s) is/are required for online access or the package is from an aggregator such as Ebsco Academic Search or ABI/Inform. The archival copy will be located in the appropriate research library for the subject matter.
  
  If there are two or more print subscriptions and one or more libraries are required to maintain the print subscription to acquire RU access online, both the print and online subscription will be paid through central funds, and the funds recouped from cancellation of the print subscriptions will be transferred to the central fund to cover the new expense.

• Standardize all fund code names for the same disciplines purchased by different libraries. An example is MTPD used at the Dana Library which represents Mathematics Periodicals Dana Library and MSPM at the Math Library which represents Mathematical Science Periodical Math Library.

• Changes for New Brunswick Collection Group:
  
  The Task Force recommends that when there are two fund codes representing the same discipline but representing different libraries, for example where CHPC represents Chemistry, Periodical, Chemistry Library and CHPS represents Chemistry, Periodical, LSM, the fund code will be changed to CHPB which represents Chemistry, Periodical, New Brunswick. This will take place in all fund code categories and order types- monographs, periodicals, packages, memberships and mono series standing orders.
  
  All fund code changes should be approved and be ready for entry for the new fiscal year. Changes in fund codes will be made at the beginning of the fiscal year before any payments are posted.

Non Periodical Subscriptions

The Task Force is currently evaluating non-periodical order records where encumbrances may not be paid out each fiscal year. Data is being gathered to determine the best method to control encumbrances. The intent is to implement recommendations for these records throughout the 2005/2006 fiscal year.

The Task Force will continue it's evaluations for this next fiscal year.