Show Them the Money!

ABSTRACT

This article describes ways of measuring the monetary value of resource sharing across jurisdictional boundaries, using the same “buy once, use many times” logic that is the basic underpinning of libraries.

KEYWORDS:

• Resource sharing
• dollar value
• reciprocal borrowing
• interlibrary loan
• cost-benefit analysis

Notes

1. Any library item, actually. And online data as well.

2. Except, occasionally, by dogs and two year olds.

3. Many services of local government work the same way, of course, which is an argument for the value of government. But many don't. When you vote, the ballot is used only once. Most of the water you buy is recycled by Mother Nature when it reaches the ocean, not by your water department. Traffic tickets, business licenses—much of what local government provides offers only one use for one citizen.

4. Or whatever 30 to one is. Astronomically, perhaps? Here's a simple example. You lend 100 books via ILL and borrow 100 for your patrons. Your cost to lend is $100 plus (let's say) $500 in staff time costs. The “value” your patrons get is $3,000 minus a similar $500 in staff costs. So, $600 in costs to lend and $2,500 in value when you borrow. Now double it all. Your lending now costs you $1,200, and you get $5,000 in value when you borrow. Your costs go up by $600. Your value increases by $2,500.