Libraries are facing an increasingly difficult struggle to find the funds they need for the services they offer. But, if you take a step back, and look at library expenditures on average, the problem and solution start to solidify
In today’s digital landscape, libraries are facing the harsh reality that they are no longer the only place to find information and resources. Libraries also continue to face budget backlash surrounding the many cuts to educational institutions. All of this has resulted in an unfortunate decrease in library revenue, and the main cost culprit continues to be library technology.
Let’s first take a look at the current statistics on library budget cuts and overall spending:
The Facts And Figures
US Public Libraries served 297.6 million people (or 96.4% of the population)
Public library operating revenue, service hours, and staffing have all been reduced
Circulation, program attendance and computer use have increased
Public library revenue decreased 3.5% from 2009 t0 2010 ($11.3 billion total revenue in 2010)
Public library reported operating expenditures were $10.77 billion in 2010
So, where are libraries getting the funds to continue offering their technology services and overall operations?
Library Revenue Sources
84.4% of public library revenue came from local sources
7.1% from state sources
.5% from federal sources
7.6% from other sources (gifts and donations, library fines, services fees, and grants)
.4% from “other” sources
Libraries are facing an increasingly difficult struggle to find the funds they need for the services they offer. But, if you take a step back, and look at library expenditures on average, the problem and solution start to solidify:
Current Library Expenditures 67.2% of library expenditures are used essentially for printed materials or print technology:
Maintenance of outdated technology
12.4% of library expenditures are used for digital materials:
These numbers detail an obvious problem: In an almost entirely digitized world, libraries still spend more than half of their budget on printed material. Only 12 percent of library revenue is being spent on digital library technology. The reason library revenue is suffering is not because people have lost interest in libraries – it’s because libraries aren’t offering patrons what they need.
Updating Your Library Technology
The reality is that your patrons, just like the rest of the world, have embraced the digital revolution. If your library wants to retain the loyalty of its patrons and garner local support, it must also embrace this digital transformation. While people will always have a deep love for traditional page-turners, the way in which your patrons seek information has completely changed.
In today's world, your library technology needs to deliver a seamless and user-friendly experience. By introducing new, digital library technology such as book scanners, scan-to-mobile capabilities, and cloud technology, you not only meet the evolving needs and desires of your 21st century patrons, but you also save on the costs associated with outdated technology.
Libraries worldwide are currently locked in a fierce battle to secure the necessary funds for their crucial services. However, there may be a solution that has been overlooked: rather than sacrificing any of their invaluable services, libraries can simply update and enhance the offerings they provide. Investing in state-of-the-art library technology is a far more cost-effective option compared to maintaining outdated printers, copiers, and scanners. Not only does this upgrade add tremendous value to your library, but it also aligns perfectly with the expectations of your modern-day patrons. Discover how ScannX Book Scanning Solutions can empower you to provide your patrons with affordable, advanced, and user-friendly book scanning solutions today. Click below to request more information from our book scanning experts below!