[LIBRARYDIR] Valuing gift books

[Mindy Coslor]

For tax purposes, the giver needs to assign the value for their taxes.  When someone gives us a gift, we do not place a value on it.

However, when we add a book to our collection, if we don't assign the list price, then we have a default amount of $45 for replacement (plus $10 for ordering and processing).

Dr. Mindy Coslor, Ph.D.
Director of Library Services
Skagit Valley College
360.416.7761

From: LIBRARYDIR [mailto:librarydir-bounces at lists.ctc.edu] On Behalf Of Coe, Erica
Sent: Thursday, January 05, 2017 1:46 PM
To: WACTC Library Directors <librarydir at lists.ctc.edu>
Subject: [LIBRARYDIR] Valuing gift books

After our campus audit, our business office is questioning how we value gift books.   Our method, determined before my time, has been to assign all books a $50 replacement value.    How do you value gift books?

Thanks,
Erica
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