[LIBRARYDIR] values for library "surplus inventory"

[Roduin, Cheyenne]

Here is what we do at Lake Washington (as explained by our cataloging tech):


 The library reports the value of all additions and deletions of "J" Library Resources to the Financial Department at the end of the fiscal year.  They include our figures in their

State reporting and are responsible for depreciation calculations, if any.



 We submit a total dollar value of items added to the collection and items deleted from the collection to Financial (each is further separated into Donated and New and serials.)



1.  We enter a value into the the catalog record for all new and donated books, DVDs, etc. when cataloging each item.

2.  At year end, I report the total dollar value of "additions" to the collection in the J inventory (using total amounts from our budget, other dept. budgets, and processing.)

3.  When an item is weeded, I determine the value from the monthly Weeding Report which shows the amount we entered when it was cataloged.  All values of weeded items are included in the dollar value of "deletions" and reported at end of year to the Financial department. For serials, the purchase value from 3 years back is included in the "deletions" also.


Cheyenne M. Roduin - MLIS
Faculty Librarian/Library Program Coordinator
cheyenne.roduin at lwtech.edu<mailto:cheyenne.roduin at lwtech.edu>

Lake Washington Institute of Technology
11605 132nd Ave NE
Kirkland, WA. 98034
425-739-8100 xt.8657
http://lwtechlearningcommons.com<http://lwtechlearningcommons.com/>

"Outside of a dog, a book is a man's best friend. Inside of a dog it's too dark to read." - Groucho Marx

From: LIBRARYDIR [mailto:librarydir-bounces at lists.ctc.edu] On Behalf Of Kanne, Lynn
Sent: Monday, July 6, 2015 11:53 AM
To: LMDC open (librarydir at lists.ctc.edu)
Subject: [LIBRARYDIR] values for library "surplus inventory"

Hello all:

Our accounting department has asked me to find out what methods are being used at other colleges to assign values to withdrawn library materials (books, DVD, etc.).

If you've been asked for this information, can you share what systems for tracking original cost or formulas you use to calculate the value? Send to me and I'll share a summary if there's interest.

Thanks.
Lynn

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Lynn Kanne, Interim Dean for Instructional Resources
Seattle Central College Library<http://seattlecentral.edu/library> | 206-934-4072

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