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Funding a special project |
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You
have been hired as director of a small preservation department within a
public institution. You have a staff of 4 people, including yourself. They
include: |
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- A preservation
administrator who is responsible for managing the department,
coordinating a brittle books program that microfilms books in-house for
the institution's use and for sale and starting a digitization project
for books and serials that are added to the digital library;
- A
paraprofessional who is the microfilming and will be the digitizing
technician, and is responsible for the bindery shipments,
- A student
worker, and
- A secretary.
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You have their
salaries and benefits to consider. |
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The institution has
given you office space, so you don’t have facility overhead but you do
have an operating budget for office supplies, printing, phone bills and
whatever else is needed to manage the office. You still have to purchase
preservation supplies, but all the equipment was purchased years ago so
you don't have that expense. |
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You want to digitize
or microfilm some special collections but don't have the money, so you are
willing to take on some outside work and let the extra pay for your
special project. |
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Your digitization and
microfilming activities are completely self supporting. You need to bring
in enough outside work to pay for all your projects. How much outside
work do you need? |
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Here are some figures
to work with. |
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Salaries Office staff
Preservation Administrator $50,000
Paraprofessional / Technician $35,000
Student worker $ 15,000
Secretary $25,000
Total $125,000 |
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Operating budget
Office Supplies $5000
Printing $7500
Phone $2000
Preservation supplies, including microfilm supplies $4000
Misc. (for education, software, etc) $5500
Total $24000
Grand total expenses $149,000 |
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So now you need to
determine income for digitization which you will fund by microfilming.
You have determined that the digitization project will cost $150,000 to
start, including hardware, software and training. |
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Your department can
create microfilm masters or digital masters of a 400 page book for
$125.00. (You can fit 2000 frames on a roll of 35mm film) How many books
would you need to film to make your initial outlay of funds (150,000)? |
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This simple (and not
very realistic) form of budget planning does not include things like your
fixed costs, your variable costs, your indirect costs but it does help to
plan how much marketing you need to do to meet your digitization project
so that you can cover your costs. One area you do not skimp on when
planning your budget is in your marketing. Without external microfilming
projects you cannot make the digitization program work. |
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Calculate
the answer |
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Thought questions:
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Where could you make additional money?
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Would you need to hire staff to do this?
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How would you allocate the work of your paraprofessional and student
worker to compensate for the extra work?
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Would you be able to actually perform the digitization project with the
number of staff at your disposal?
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How long to you think it would take you to make the extra $150,000?
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Where will you market and advertise for the work?
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Adapted from “Show me the money”
courses.dsu.edu/cet749/lessons/lesson%204.htm |
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ç return to week 12 |
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