Financial management in Govt. First Grade College Libraries of Hassan District, Karnataka: A pilot study

Financial source is a powerful tool for the exploring goals and objectives of the library. Financial management in a collection development of libraries is highly skill orientated, and many rules and procedures need to be followed for the effective utilization of grants from the various financial sources. This article focused to identify the various financial sources and financial management strategies for the collection development of libraries in government first grade college libraries of Hassan district in Karnataka. This article is based on comprehensive survey carried out by the authors with specific intention to assess the financial management. A structured questionnaire used as the tool for the survey. Out of 20 libraries, 16 filled questionnaires received. Majority of the college libraries are not following any standard budgetary methods for preparation of library budget and 50% of the libraries followed the lump sum budget method. It is also noted that year by year collection development of books decreased frequently. The study observed that the government is the main funding source for the college libraries.