Many libraries and library types utilize collection development policies as the standard for guiding the content and format of current and future collections. While these documents retain value as a summary of departmental desires and acquisitions planning, the multidisciplinary nature of teaching and publishing may be diminishing their use and effectiveness as a means of disseminating library intent. The on-demand nature of new purchase and approval plans, along with the advent of patron-driven acquisitions, has affected much of the ability to engage in the same year-to-year planning best complemented by the traditional collection development policy. If these policies are to remain the standard, or part of a continuing comprehensive collections plan, they must be relevant, available, and understandable in the context of the entire process. Adding to the fun are new models of budget and acquisitions planning used at the University of South Florida, as well as many other institutions, such patron-driven and purchase on demand acquisitions, the development of an overall (or comprehensive) collections policy, and other elements of the new economic paradigm shift. Other new and updated concepts from the literature also contribute to the discussion on collection policy changes, as well as other ways in which these documents may be altered to adapt to new fiscal and environmental realities.