Library acquisitions formulae: the Monash experience

Merran Evans

Abstract Monash Univeristy Library recently adopted a new formula to determine the allocation of acquisition funds for books and periodicals. The process and outcome are described here. As part of the process, a comprehensive review of 69 allocation formulae in academic library journals was undertaken. The outcome was a totally dynamic formula incorporating an index representing total costs of monographs and serials available (rather than the average price per item of past Monash purchases) and different weightings on student demand to better reflect library usage.