Historically libraries have been allocating their budget using a formula based on usage statistics and cost of the materials. Today, allocations need to be adjusted from year to year, because of the constantly changing educational priorities of the institutions and the budgetary constrains faced by academic libraries. In this paper, the author has tried to arrive at an allocation formula that takes into account the constant and variable factors that would determine the strength of the library collections. This formula is flexible enough to be applicable to a budget of any amount in a small to medium size library. The formula was successfully applied by the Seton Hall University Library to distribute new grant money from the National Endowment for the Humanities (NEH), as well as to the whole Library materials budget, with some modifications.
Available at: http://works.bepress.com/sulekha_kalyan/1/