Library Budgeting and its Library Budgeting and its Technique Technique

ByByBhupendra Ratha, LecturerBhupendra Ratha, Lecturer

School of Library and Information Science School of Library and Information Science Devi Ahilya University, IndoreDevi Ahilya University, Indore

Email: Email: bhu261@gmail.combhu261@gmail.com

BudgetBudget

A budget is an estimation of probable income A budget is an estimation of probable income and expenditure for the ensuring year.and expenditure for the ensuring year.

In other words, it may be described as a In other words, it may be described as a statement of revenue and expenditure for a statement of revenue and expenditure for a given period usually one year.given period usually one year.

Objectives of Library BudgetObjectives of Library Budget

To present a statement of estimated revenues and To present a statement of estimated revenues and expenditures for a given period.expenditures for a given period.

To serve as a plan for the effective coordination of To serve as a plan for the effective coordination of resources and expenditure.resources and expenditure.

To present details regarding the services that are to be To present details regarding the services that are to be given at a future.given at a future.

To serve as a basic financial control mechanism.To serve as a basic financial control mechanism. To serve as a device for evaluating results.To serve as a device for evaluating results. To serve as a tool for the financial management.To serve as a tool for the financial management. To form the basis for the formation of future policy. To form the basis for the formation of future policy.

Techniques of Budgeting Techniques of Budgeting

Line by line budgeting Line by line budgeting Formula budgeting Formula budgeting Program budgeting Program budgeting Performance budgeting Performance budgeting Planning Programming Budgeting SystemPlanning Programming Budgeting System Zero Based Budgeting Zero Based Budgeting

Process of Budgeting Process of Budgeting

Factors to be Considered in Budgeting Factors to be Considered in Budgeting

The types of libraryThe types of library The size of libraryThe size of library The types of users and numbers of usersThe types of users and numbers of users Document collectionDocument collection Programs and performance of different Programs and performance of different

sections of library.sections of library.

Tips for Budget Making Tips for Budget Making Each section should be maintained a budget file.Each section should be maintained a budget file. Each estimate must be detailed.Each estimate must be detailed. All the departmental reports should be All the departmental reports should be

incorporated in a general budget form.incorporated in a general budget form. All the accountant or account assistant should All the accountant or account assistant should

carefully do the cumulative work, so that an carefully do the cumulative work, so that an exact idea is got as to what total amount is exact idea is got as to what total amount is required for each work.required for each work.