Three phantom budget cuts and how to avoid them

Terrance (Terry) Cottrell

doi:10.1108/08880451211229171

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Bottom Line: Managing Library Finances, The

ISSN: 0888-045X

Online from: 1988

Subject Area: Library and Information Studies

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Three phantom budget cuts and how to avoid them

Document Information:
Title:	Three phantom budget cuts and how to avoid them
Author(s):	Terrance (Terry) Cottrell, (University of St Francis, Joliet, Illinois, USA)
Citation:	Terrance (Terry) Cottrell, (2012) "Three phantom budget cuts and how to avoid them", Bottom Line: Managing Library Finances, The, Vol. 25 Iss: 1, pp.16 - 20
Keywords:	Administration, Allocation, Budget, Budgetary control, Cuts, Expenditure, Justification, Library management, Management, Revenue
Article type:	Viewpoint
DOI:	10.1108/08880451211229171 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Abstract:	Purpose – This paper explains how library budgets can be cut in ways that are quick and unexpected. The purpose of this paper is to provide reasoning for these cuts with strategies for mediation and avoidance. Design/methodology/approach – By understanding the intricacies of three unique types of phantom cuts, library managers can keep their budgets secure and even win additional monies moving forward. Findings – Budgets can be cut through sound library fiscal management, large-scale restructuring, or swift reaction to unexpected losses in revenue. Keeping the philosophy of the library as the best centerpiece for the potential for learning is the proper method to retain funding. Originality/value – This paper shows sound fiscal management as a potential danger to managerial rewards for sound judgement, and introduces the reader to various aspects of zero-based budgeting and strategic moves for handling complex fiscal change.