Acquisition Budget
nounPronunciation: /əˈkwɪzɪʃən ˈbʌdʒɪt/
The allocated financial resources designated for purchasing library materials, including books, journals, databases, and electronic resources. This budget is typically divided among subject areas and formats based on institutional priorities and collection development policies.
Plain English
Money a library sets aside each year to buy books, journals, and other materials.
Etymology & History
Usage
"The library's acquisition budget was reduced by 15% due to institutional budget cuts."
Style guide notes: Capitalize when referring to a specific institutional budget; use lowercase in general contexts.
Also known as
Contrasted with
Related Terms
Frequently Asked Questions
How is an acquisition budget typically allocated across subject areas?
Allocations are based on curriculum needs, user demand, research priorities, and historical spending patterns analyzed through collection assessment data.
What factors affect acquisition budget planning?
Enrollment trends, research initiatives, inflation, vendor pricing changes, licensing costs, and institutional strategic goals influence budget planning decisions.
Why Test Candidates on This?
Essential for understanding library financial management and collection development decision-making processes.
Required skill level: Mid