Library Asset Management Policy

Name: Library Asset Management Policy
Responsible Office: Library

Applies to: (examples; Faculty,Staff, Students, etc)

Faculty , Staff

Policy Overview:

Issued: 07-16-2020
Next Review Date: 07-26-2022
Frequency of Reviews: Annually

The policy allows the library to ensure that library budgets are spent on electronic resources (e-resources) that support the mission and objectives of the institution and are relevant and cost effective. This policy will establish procedures to evaluate both requested new resources and existing resources.

To establish if a new e-resource is appropriate for the library’s collection and to help determine the true and hidden cost implications of acquisition, storage, maintenance, preservation and other issues, detailed information regarding the item is reviewed.

Established e-resources will be reviewed closely to identify legacy resources that are no longer providing adequate value.

The University's Contract Administration and Signature Authority Policy identifies those positions which are allowed to enter into an agreement on behalf of the University. Individual faculty and staff may not enter into an agreement to purchase or lease library information resources on behalf of the University.

Applies to all faculty and staff requesting new e-resources to support a new course, program, major or degree, and all faculty and staff requesting new e-resources to support an existing course, program, major or degree.

Definitions:

Term	Definition
Electronic Resource	Database or Electronic Journal or Electronic Book

Details:

1. Selection and Evaluation of New Content for New Offerings
  1. Faculty submits a “New Course Proposal Library Questionnaire”
    1. Library will evaluate the needs of a new course in advance of its adoption.
      1. Suitability of existing resources
      2. New resources required to support the course
        
        Library will apply “Criteria for Purchase and Renewal Decisions” to specific resources.
      3. Estimate funds needed for library materials and services
  2. Faculty submits a “New Program Proposal Library Questionnaire”
    1. Library will evaluate the needs of a new program/major/degree in advance of its adoption.
      1. Suitability of existing resources
      2. New resources required to support the program/major/degree
        
        Library will apply “Criteria for Purchase and Renewal Decisions” to specific resources.
      3. Estimate funds needed for library materials and services
2. Selection and Evaluation of New Content for Existing Offerings
  1. Faculty submit a “Library Acquisition Request”
    1. Library will apply “Criteria for Purchase and Renewal Decisions” to requested resource(s).
    2. Estimate funds needed for library materials and services
3. Review and Renewals Process
  1. Review of usage data
    1. Determine if the use of the resource, when considered alongside the associated costs, justifies retention and renewal of the resource.
  2. Review of content and curriculum
    1. Determine whether resource continues to add value to the institution.

Procedures:

See “Criteria for Purchase and Renewal Decisions”

Responsibilities:

Position/Office/Department	Responsibility
Library Director	Oversee management of print and electronic resources
Electronic Resources Librarian	Statistical analysis