The Strauss Health Sciences Library has an overall collections budget of $2,734,683 in FY19. Approximately, less than 1% is spent on one-time purchases while 99% is spent on electronic (e.g. journals, databases, etc.) subscriptions.
In a given fiscal year (July 1 through June 30), we expect our subscription costs to rise by approximately 5-7%. Without a steady collection budget increase, the Library must cancel resources.
The Strauss Library needs to cut approximately $130,000 in FY19. We have undertaken the following approaches to cut collection cost in FY19:
--Negotiate with publishers
One way to save cost is to negotiate multi-year agreement with publishers for resources essential for this campus. We have entered multi-year contract for many of the most important resources over the years, and we added more in FY19.
For resources not locked in a multi-year contract, we asked for price reduction.
--Cost-sharing with other CU libraries
We participate in group purchasing via national, state or CU system library groups. Many of our subscriptions are part of the CU system deal that include other CU libraries. We negotiated with our sister libraries to change the cost distribution. The most significant item is:
The following are resources we cancelled for 2019. We are still in negotiation with Wiley about journal renewal cost. If you have any questions, comments, or concerns please contact Yumin Jiang or Danielle Ostendorf.