Ways For Generating Additional Income In Academic Libraries
(A Case Study Of Alvan Ikoku Federal College Of Education Library Owerri)
In the dynamic landscape of academic libraries, the pursuit of supplementary revenue sources has become increasingly vital. Academic libraries, traditionally revered as repositories of knowledge, are now navigating a complex financial terrain. The need to diversify income streams has prompted institutions to explore innovative avenues. One approach involves leveraging digital resources and technology to offer fee-based services, such as online courses or premium research tools, catering to both students and external researchers. Collaborations with local businesses for sponsored events or establishing partnerships with publishers for exclusive access to certain content are alternative strategies. Additionally, optimizing physical spaces within libraries for hosting conferences or workshops provides an opportunity to generate revenue while fostering a vibrant intellectual community. Embracing these strategies ensures that academic libraries not only sustain their core mission but also thrive in an era demanding financial resilience.
The ways of generating additional income in academic library is the pivot on which all academic activities revalue in an academic environment. Libraries help the institutions to achieve their stated goals and the fulfillment of this enormous task is dependent on the adequate income of libraries to ensure the realization of the goals and objective of the parent institution. Infact the issue of generating additional income in academic libraries has been a typical for virtually everyone engaged in the education. Against this background, the state of funding as it affects the Alvan Ikoku Libraries is review of identifying problems encountered there in for mark of specificity; this research is divided into five chapters. Chapter one examines the evolution of academics effects of funding, aims and purpose of the study, scope and limitation and the historical development of the tow libraries under study. Chapter two deals with literature review, chapter three, examine the methodology of the present research. Chapter four deals with the data collected from the interview analyzed and discussed. The last chapter five took care of the conclusion and recommendation for the improvement of the deplorable situation of funding of the two libraries under study. Finally there are also references, bibliography and an appendix.
Title Page
Certification
Dedication
Acknowledgement
Abstract
Table Of Contents
Chapter One
1.0 Introduction
1.1 Background Of The Study
1.2 Statement Of Problem
1.3 Objectives Of The Study
1.4 Significance Of The Study
1.5 Scope And Limitation Of The Study
1.6 Research Questions
1.7 Definition Of Terms
Chapter Two
2.0 Literature Review
Chapter Three
3.0 Research Methodology
3.1 The Research Population
3.2 Sample Selection
3.3 Method Of Collection
3.4 Interview Schedule
3.5 Observation
3.6 Procedure For Data Collection
Chapter Four
4.0 Data Presentation And Analysis
Chapter Five
5.0 Summary, Conclusion And Recommendation
5.1 Summary Of Findings
5.3 Conclusion
5.4 Recommendation
Bibliography
Appendix
Questionnaire
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The Harrods Librarian glossary and reference book defines academic library as those of universities, polytechnics, colleges schools and all their institutions forming part of or associated with reaching and learning.
The contents or collections of academic libraries usually cover many branches of knowledge and may weigh move on those areas having to directly with the aims, purposes or objectives, for which the institutions are established. Funk and waynals new Encyclopedia sees an academic library as college and university libraries which jitters from rezendi libraries in their needs to serve readers with various levels of expertise and in their responsibilities to support the teaching and research programmes of their home institutions such libraries usually obtain most of their financial support from the parent institutions.
Sequel to the definition. It can be deduced that academic libraries operate in accordance with the principle and objectives of the parent body establishing them. All services are geared forwards the academic community, with little or no attention gives to those outside the library community, this to meet the objects which include. To provide references and lending services appropriate to the needs of students and staff of the institution, such materials include dictionaries encyclopedia year books, bibliographies. Another objective of the academic library is to provide an actively information service and this may be extended beyond the institution to the local industries and commercials.
ADDITIONAL WAYS OF GENERATING ACADEMIC LIBRARY FINANCES
Various sources by which academic library derived their needed funds for capital and recurrent expenses apart from privately owned institution of higher learning, public universities and other publicly owned higher institutions are expected to at list pay their ways.
Academic libraries derived their funds from external and internal sources while the externally derived funds from the parent institution for an academic library and donations form individuals and organizations.
WAYS OF GENERATING ADDITIONAL INCOME IN ACADEMIC LIBRARIES OR VARIOUS SOURCES OF FUD OF AN ACADEMIC LIBRARIES
Government/Ownership Grant
Gifts and Private Contributions
Endowments
Miscellaneous sources of funds.
PROBLEM OF GENERATING ADDITIONAL INCOME IN ACADEMIC LIBRARIES
In the history and development of academic library in Nigeria, the problem of fund is remained an intractable phenomenon. This factors constitutes the basic and accomplishment of the main aims and objectives of establishing is their fore indispensable in the smooth running of any library. It is an acknowledged fact that no one singular library can buy all print and non prints materials that can adequately meet the needs all user in the academic environment. In the same token it has not been possible for most academic libraries to boast of enough personnel of professional competence and required sense of commitment commensurate to the library services being demanded by its clienteles due to inadequate funding of the libraries by the government. The result of the impending global economic situation on the other hand has drastically affected the attainment or achievement of basic standards in funding in the institutions.
1.1 HISTORICAL BACKGROUD OF CASE STUDY HISTORICAL OVERVIEW OF ALVAN IKOKU COLLEGE OF EDUCATION LIBRARY OWERRI IMO STATE.
The Alvan Ikoku college of education formally advanced teachers training college Owerri was established in 1962 with an embryo library with stock strength of 2,500 volumes is one of the college buildings at it former temporary site. Called shell camp.
Also on the other hand, a size member commission charged with the responsibility of conducting an investigation into Nigerian’s need in the field of post primary certificate and higher education over the next twenty years (1960-1980) was constituted in 1959, this was headed by Sir Eric Ashaby. The commission deport was submitted in September 1960. in reaction to the report, the federal government issued a while paper to the parliament in 1961. in it, the federal government approved a teacher’s training college in the three regions. Since one of the colleges was to be sited in the Eastern region, its government approached UNESCO for assistance to enable it perform the obligation. This request of this, the college was established.
By the middle of 1967, the library was moved into its permanent shaped building, with a floor space of 10,080 square feet provided by UNESCO its strategic position makes it handy from all sides for both students and staff. In April 1970, the college was re-opened as the Nigerian Civil won ended. After necessary repairs, the structure was again put its use. In April 1973, by edict No. 11 of 1973, the advanced teachers training college was given an autonomous states and renamed Alvan Ikoku college Education. The Institution was up graded in 1979 to a degree awarding school affiliated to university of Nigeria Nsukka.
Presently, there are five departments of the college library Viz: Administration, Acquisition Technical Services. Several and readers services departments. In terms of stock the library has acquired over $1,891 volumes of body and about 3,684 journal titles. Its collections grew to over 50,000 volumes presently there is not clear art number of its volume.
1.2 STATEMENT OF PROBLEM
Academic Library Funding have been a major concern to library managers. For any academic library to fulfill the purposes of its existence and to remain a citadel of knowledge, it must be funded adequately. In many instance the budgetary allocation are not released as act when due.
This is turn delays the implementation of the programmes of these libraries. When the funds are eventually released, it would usually not be up to 50% of the expected sum, most universities especially state owned universities. Academic library managers have complained that the number of journals and newspaper that are being supplied to them on daily and weekly basis fall shaort of thir expectations. The researchers and students alike who are in need pf these materials are not always satisfies with materials on ground. The reasons for the short supply of these materials are attributed to shortage of fund. Added to the above is the shortages of relevant text books as currently being expericed in academic libraries. Inadequate provision of funds has prepared the provision of current materials needed by the provision of current materials needed by the staff and students in academic reduction in the quality of education provide.
1.3 SCOPE/LIMITATION OF THE STUDY
This study is restructured to the funding of Alvan Ikoku Library Owerri. Major emphasis was laid on identifying the funding problems associated with the academic library under review Alvan Ikoku librarr.
The researcher limited his works to these of time involve in extending to other academic libraries.
Another reasons for selecting the institutions was to enable him carry out a through work that shall stand the test of time.
1.4 OBEJCTIVES OF THE STUDY
The objectives of the study are as follows.
To establish what the present situation is with the academic libraries in terms of funding within the period under review.
To establish low adequate funding shall facilitate the running of these libraries and enable them achieve their primary objectives.
To find alternative source of funding for academic libraries. To highlight problems associated with inadequate funding of academic libraries.
To make recommendation on how to overcome inadequate funding and other problems associated with running of academic libraries with social attention with Alvan Ikoku College of Education.
1.5 RESEARCH QUESTIONS
1) Does inadequate funding of academic libraries limit the scope of services provided to the clientele?
2) Does the inability of the parent institution relelase fund as at when due to the managers of academic libraries minimize their ability of acquire library materials?
3) Does the inability of the managers of academic libraries to exploit other sources of revenue limit their available fund?
4) Does the inability of the parent policies still affects the funding of their academic libraries?
5) Does lack of honesty on the part of libraries hinder academic libraries from living up to expectations?
1.6 DEFINITION OF TERMS
ACADEMIC LIBRARY: Library Built in college of university for student use.
FUNDING: Making money available for the running of librarians.
LIBRARIANS: Professional staff in charge of the library.
ACQUISITION: Collecting of library materials
Ways For Generating Additional Income In Academic Libraries:
Generating additional income in academic libraries can be a strategic way to supplement the library’s budget and support its mission. Here are several ways to generate additional income in academic libraries:
- Library Fines and Fees: Implement or revise a fine system for overdue books and materials. Consider charging fees for services such as printing, photocopying, or interlibrary loans.
- Library Store: Create a library store that sells branded merchandise, textbooks, stationery, or other items of interest to students and faculty. You can also offer e-books or merchandise online.
- Café or Coffee Shop: Partner with a local café or set up a small coffee shop within the library. This can attract more foot traffic and generate revenue through lease agreements or a share of the profits.
- Meeting and Event Spaces: Rent out meeting rooms, study rooms, or event spaces within the library to campus groups, businesses, or community organizations. Ensure the library is equipped with necessary AV equipment.
- Digital Services: Offer digital services such as document scanning, digitization of rare materials, or multimedia production services for faculty and students at a fee.
- Library Workshops and Training: Organize fee-based workshops and training sessions on topics like research skills, academic writing, or information literacy for students, faculty, and staff.
- Membership Programs: Develop membership programs that offer additional services, such as extended borrowing periods, access to special collections, or personalized research assistance for a fee.
- Library Research Services: Provide fee-based research services to businesses, researchers, or institutions outside the university, leveraging the expertise of your librarians.
- Grants and Funding: Actively seek external grants and funding opportunities to support specific library projects, such as digitization initiatives, special collections, or outreach programs.
- Collaborative Partnerships: Collaborate with other departments or institutions to offer joint programs, workshops, or services that can generate income and benefit both parties.
- Technology Rentals: Rent out laptops, tablets, headphones, or other technology equipment for short-term use by students or faculty.
- Sponsored Events and Workshops: Seek sponsorship for library events, workshops, or exhibitions from local businesses, publishers, or foundations in exchange for recognition and promotion.
- Alumni Engagement: Engage alumni by offering library memberships, access to resources, and services for a fee. Alumni may be willing to support their alma mater through such initiatives.
- Publishing Services: Offer publishing services, such as formatting, typesetting, or open-access journal hosting, to faculty and researchers, charging a fee for these services.
- Library Fundraising: Implement fundraising campaigns targeting alumni, donors, or the community to support specific library projects or acquisitions.
- Collaborative Bookstore: Partner with a campus bookstore to sell or rent textbooks, academic materials, or supplies within the library.
- Data and Analytics Services: Provide data analytics services to researchers or organizations that require assistance with data collection, analysis, and visualization.
- Special Events and Fundraisers: Organize special events, book sales, or fundraisers within the library to generate additional income.
- Library Tours: Offer guided tours of the library for schools, tourists, or organizations, charging a fee for the service.
- Licensing Library Resources: Explore opportunities to license library-owned resources, such as databases or digital collections, to other institutions or organizations.
When implementing income-generating initiatives, it’s essential to balance revenue generation with the library’s core mission of providing access to information and supporting academic pursuits. Additionally, assess the needs and preferences of your library’s users to determine which income-generating strategies are most appropriate and effective for your institution.