Building Strong Library Associations | Regional Convenings

DAY 2 Session 8 Funding Sources and Managing Costs/Resources: Slides

Building Strong Library Associations | Regional Convenings

• At the end of this session participants should be able to:

• Identify funding sources that might be useful for the success of their association’s proposal.

• Understand the need to manage costs effectively.

• Be aware of the risks associated with managing funds.

Outcomes for participants

Building Strong Library Associations | Regional Convenings

• Library associations need to be accountable and transparent - finances should be available for scrutiny not only by auditors but by members as well.

• Two key principles of a financial management system are:• Transparency

• Accountability

Accountability and transparency

Building Strong Library Associations | Regional Convenings

• Funding from membership fees and/or

• Sponsorship

• Accreditation schemes

• Conferences and related activities

• Sale of products, publications

• Continuing professional education courses

• These funds might be ongoing every year even if the amount varies.

• But, relying too much on membership income is risky.

Where do associations get their funding?

Building Strong Library Associations | Regional Convenings

• Associations might also receive one-time funds for: • A project (such as BSLA)

• Government grants

• Grants from foundations or charities

One-Off Funding Streams

Building Strong Library Associations | Regional Convenings

• Associations are often supported by other organisations, such as: • National libraries, which provide

accommodation, a place to keep records, and sometimes equipment for the association

• Libraries which provide space for workshops and events

• Contributions of this kind help associations to provide activities and services they could not otherwise afford

In-kind Contributions

Building Strong Library Associations | Regional Convenings

• As a total group discuss: • What could be some sources of funding for

your proposal? • Do you know of funding sources in your

own country or region? • Suggestions will be noted by the trainer on

a flipchart.

Activity: Funding Sources Brainstorm 10 mins

Building Strong Library Associations | Regional Convenings

• A budget for your proposal will:• Give you the confidence that your association will

be able to meet financial responsibilities

• Identify problems before they occur – such as any shortfall in covering expenses

• Manage your expenditure

• Increase donor/stakeholder confidence in your association

Writing a budget

Building Strong Library Associations | Regional Convenings

• If you receive project funding, you need to be able to deliver the project within the budget and financial guidelines

• Costs must be reasonable and allowable. It should be clear how they have been calculated

• The cost should be consistent with your association’s policy and the funder’s policy

• If you cannot complete the project, or you don’t spend the full amount, you will need to be prepared to return the remaining funds.

Budgets and guidelines

Building Strong Library Associations | Regional Convenings

• Risks may include:• Currency fluctuations• Change of Government• War• Dependency on too few funding sources• Financial incompetency• Other?

Funding Risks