Most of us are aware of the challenges caused by FAFSA, the federal form required for financial aid, which has affected every university in the country this year. Because of Furman’s uncertainty about net tuition revenue for the fall, the University is in the process of realigning our budget to be more fiscally responsible. To meet this need, the Furman University Libraries have reduced our budget by $150,000 for the 2025 school year. In order to do this, we began by looking at each of our resources and asking is this resource mission critical, nice to have, or superfluous? One of the tools that we used in the process was assessing database and journal cost-per-use.
Our reductions were strategic and data-driven. Library employees and departments were ask for feedback as necessary. In almost all cases, we were able to find work-arounds or substitutions for canceled materials. In this way, we identified cancelations that will have the greatest impact to budget with the least impact to users.
In addition to budget cuts, we were able to identify changes to our library schedule that will lead additional salary and utilities savings. This summer, rather than being opened from 8AM-10PM Monday-Thursday the Duke Library is closing at 6PM and will be closed on Saturdays and Sundays until the beginning of the fall term.
I am proud of how everyone in the library came together and used their knowledge and expertise to find ways to help ensure Furman’s financial strength and ongoing success!
Caroline Mills
Director of Libraries