Institutional budget and impact of internally generated revenue on funding of academic library in a developing economy

Abstract

Provision of funds for the academic libraries has been one of the challenges to adequate availability of information resources. Most institutions rely on institutional revenues to be made available to the libraries at appropriate and available period. The study showcased among others; determined the percentage of institutional budget of internally generated revenue for funding of the academic libraries, gathered information on products and services that generate income into academic libraries, exposed ways through which academic libraries could generate funds for self-dependence. The instrument used for data collection was the questionnaire and study employed descriptive design to investigate the percentage of institutional budget allotted to the library and the impact of internally generated fund on the running of the academic libraries studied. The study was conducted in five Private Universities in Osun State, Nigeria where 24 librarians were respondents.