Fund Code Review Task Force Report - June 2005
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.
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
Business = BU
Fund code = BUPO
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
- 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
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
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.