Why is the library asking for more money now given the bond funds received in 98-99?
The Bond $500,000 did not cover subscriptions. In Winter of 1999 the Library proposed an additional $40,000 (for FY 99-00) for periodical subscription costs but did not receive the increase. Escrowed funds from Library Capital were used to cover periodical costs in 98-99. About $8420 remained in escrow; those funds will be used for periodical costs due FY 99-00 with an additional $630 due to come from 99-00 monographs. Projected periodical costs in FY 00-01 will consume the majority of Library capital, leaving just $16,773 for monographs. $10,000 of that is needed for library reference and replacement purchases. The $6773 remaining divided among all subject allocations comes to about $75 per allocation. Some subject allocations will be able to purchase several books, other subjects may be able to purchase just one.
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